Unhappy Housing – Mortgage Metrics Report Released
The OCC & OTC have issued a report on mortgages. These are some astounding numbers on just how many homeowners are in big trouble: The report, based on data from loan servicing companies that manage 64 percent of all first-lien U.S. mortgages, shows: The number of loan modifications significantly increased. During the quarter, servicers implemented 185,156 new loan modifications, up 55 percent from the previous quarter and 172 percent from the first quarter of 2008.
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Tags: Home, Loan, Mortgage, Mortgages