The Federal Housing Finance Agency (FHFA) released its most recent U.S. Foreclosure Prevention Report last week showing there were Home Foreclosures15,192 foreclosure prevention actions for struggling homeowners in January 2016, for a total of 3,658,641 since the project began in September 2008. Over 50% of the actions resulted in permanent loan modifications for a total of 1,908,751 since 2008.

In January, there were 9,925 permanent loan modifications. 19% of these were with principal forbearance and modifications with extend‐term only accounted for 48% of all permanent modifications due to improving home values and a declining HAMP
eligible population, according to FHFA.

A total of 2,329 short sales and deeds‐in‐lieu of foreclosures were completed in January, down 14% in comparison with December.

The serious delinquency rate was up slightly from 1.46% at the latter part of December to 1.47% at the end of January.

Third‐party and foreclosure sales increased 13 percent from 8,051 in December to 9,062 in January, and foreclosure starts went down 24% from 23,593 in December to 17,831 in January.

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.