Hope Now reports 219,333 third quarter mortgage modifications

Mortgage servicers completed 219,333 loan modifications during the Q312, according the data from Hope Now, an alliance between HUD-approved counseling agents, mortgage servicers, investors and other mortgage market participants. For the month of September, 60,595 proprietary loans were completed. This is a 2% increase from August, which indicates that mortgage servicers delivered 59,459 proprietary loan … More Hope Now reports 219,333 third quarter mortgage modifications

Alternative Minimum Tax Could Hit Millions of Households More than 26 million households will for the first time face the AMT, which threatens to tack an average of $3,700 on to tax bills

The Washington Post6:36 a.m. CST, November 5, 2012 The best hope for a deal to avoid the “fiscal cliff” may lie with the alternative minimum tax, an obscure provision of the tax code that is about to become alarmingly relevant to millions of middle-class taxpayers. Unless Congress acts by the end of the year, more … More Alternative Minimum Tax Could Hit Millions of Households More than 26 million households will for the first time face the AMT, which threatens to tack an average of $3,700 on to tax bills

New short-sale guidelines expected to unclog bad mortgage backlog

The new Federal Housing Finance Agency short sales guides for the government-sponsored enterprises Fannie Mae and Freddie Mac are now in effect. The guideline’s impact on mortgage servicers so far are seen as positive, given that the program seeks to avoid foreclosures and is helpful to borrowers, servicers and the housing market, said senior executive … More New short-sale guidelines expected to unclog bad mortgage backlog

Completed Foreclosures Down 31% from Year Ago, but Remain High

Completed foreclosures continued their descent into September, falling 31 percent from a year ago, according to data from CoreLogic. The analytics company reported the number of homes lost to foreclosure in September dropped to 57,000. The decline is a steep drop from 83,000 in September 2011, and a decrease from the upwardly revised 59,000 in … More Completed Foreclosures Down 31% from Year Ago, but Remain High