Loans Workouts ahve new hope. We must take each day at a time, but we continue to track these trends at www.InvestSmarter.com Help us see what is happening on a daily basis and keep us in the loop. The Panama City Beach Condo market continues to have outstanding results to people that are looking at trends and finding units that pay for themselves. It is so important to stay on top of the market and know you numbers!
Alliance Says It Has Increased Loan Workouts Hope
Now, an alliance of lenders under pressure by regulators to curb home foreclosures, announced Wednesday that workouts had increased to 522,000 in the second quarter up from 482,996 in the first.For the first time, more than half of the workouts were contractual changes to subprime loans, Hope Now said. These kinds of modifications are viewed as a better solution than simply extending the payment over a longer period of time.The total number of foreclosures prevented by mortgage servicers since July 2007 has risen to approximately 1.9 million, the alliance said.Source: Reuters News (07/30/2008)
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