Tuesday, November 17, 2009
New York foreclosures for sale declined in October because homeowners were able to negotiate loan modifications with lenders. According to a report, New York City had higher number of loan modifications as of October 31. New York posted 27,773 modifications. California topped the list with nearly 134,609 mortgages modified. Second was Florida, which posted 82614 modifications and Illinois were third with 33,514. New York was fourth in Loan Modifications. This indicated that more distressed homeowners in New York were qualified under the Home Affordable Modification Program. Over 650,000 mortgages have been successfully modified out of over 900,000 offered with trial modification plans.
Labels: Sale of foreclosed homes reduced in New York due to Loan Modification
posted by Avoid foreclosure, We buy houses, Stop foreclosure
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