Sunday, August 22, 2010


The mortgage industry has completed about 975,000 permanent loan modifications so far in 2010, according to estimates released this week by the HOPE NOW Alliance.

Based on information from the eight largest HAMP participants, 45 percent of those that don’t make it into a preliminary HAMP trial receive an alternative modification from the servicer; 2.4 percent lose their home through a pre-foreclosure short sale; just over 10 percent are pushed through to foreclosure; and nearly 3 percent file for bankruptcy.