1.77 Million Homeowners recieve mortgage loan workout solution
HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, announced today that its July data estimates that 1.77 million homeowners received workout solutions to avoid foreclosure since January 2009. HOPE NOW estimates a 20% improvement in foreclosure mitigation activity in July 2009 compared to July 2007, when it started tracking data, illustrating a clear trend in the decline of foreclosure sales to starts over time.
