Mortgage News Blog publishes home loan articles for brokers, lenders and consumers. People trust our mortgage blog for breaking the financing stories that matter.
Zillow published a mortgage report that revealed that more 1 in 5 U.S. homes have a mortgage that is presently underwater. This is the primary reason that so many lenders are offering
loan modification agreements in regions that have seen significant declines in home values. Fewer Americans are strategically defaulting on their mortgage loans, foreclosure rates continue to increase with RealtyTrac reporting a first-quarter foreclosure rate of 1.65 million. Analysts project that the number of mortgage defaults, repossessions and scheduled auctions are likely to reach 3 million by the end of the year. Read the original article online >
20% of US Mortgage Loans Under-Water
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