Posted To: MND NewsWire

In its 2 nd quarter Foreclosure Prevention and Refinance Report the Federal Housing Finance Agency (FHFA) says it has helped almost 4.7 million distressed homeowners since it became conservator of the GSEs Fannie Mae and Freddie Mac in August 2008. Over 250,000 of them took place in the second quarter of this year as the pandemic caused millions of job layoffs. The 12-year record of homeowner assistance includes helping 3.99 million homeowners stay in their homes and completion of 2.42 million loan modifications. For 2020 through the end of the second quarter the GSEs completed 30,764 loan modifications, 38 percent of which were on loans originated prior to 2009. Sixty-five percent of this year’s mods were extend-term only. FHFA said increases in home prices over the last few years have increased…(read more)

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Source: Mortgage News Daily