2008-02-08 — mortgagenewsdaily.com
The October data looked at 205,270 instances of loan mitigation outcomes closed that month to determine the methods used. Reinstatement of account brought current accounted to 73.33 percent of those outcomes, i.e. homeowners helping themselves as stated above. Loan modifications and repayment plans made up just under 10 percent each of the total and refinancing or paid in full (which could be from a full payoff home sale) 4.2 percent. Short sales, deeds in lieu of foreclosure, and forbearance made up only 2 percent each of the outcomes.
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