Jan 18
The Mortgage Bankers Association (MBA) released
information Thursday on the role the mortgage industry
is playing in the current drive to help homeowners who are delinquent on
or struggling with their mortgages.
According to MBA’s data, during the third quarter of 2007 the mortgage
industry worked with borrowers to modify approximately
54,000 loans and established formal repayment plans with an additional
183,000 borrowers. However, foreclosure actions were started on an
estimated 384,000 loans.
Across the board investor-owned homes represented a
significant part of the problem…