Tag Archives: Short Sale

An estimated 44,000 homeowners received permanent loan modifications from mortgage servicers during the month of November under both proprietary servicer programs and the government’s Home Affordable Modification Program (HAMP), HOPE NOW reports. While that total represents a 12 percent decrease from the 50,000 loan mods completed in October, the most recent data show a steeper 20 percent decline in foreclosure sales and a 17 percent decline in foreclosure starts between October and November.

Despite declining foreclosure starts over the year, distressed sales made up a higher percentage of overall home sales in 2013 than they did the previous year, according to the U.S. Residential & Foreclosure Sales Report released Thursday by RealtyTrac. Foreclosure sales—which include sales to third-party buyers at foreclosure auction and sales of REOs—combined with short sales to make up 16.2 percent of residential property sales in 2013, up from 14.5 percent in 2012. The report also revealed an uptick in cash purchases at the close of the year.