Foreclosure Sales Fall in May, but Foreclosures Initiated Rise

HousingWire says foreclosure sales fell seven percent in May from the previous month to 68,000, the second straight month that figure has declined, according to the Hope Now consortium of lenders, counselors and insurers.  Approximately 2.67 million mortgages stayed in 60-day delinquency in May, an increase of one percent over the previous month, and foreclosures initiated by servicers rose eight percent in May to 176,000.  Permanent Home Affordable Modification Program (HAMP) initiatives increased in May 12 percent, up to 32,298. Hope Now says servicers have completed 4.6 million modifications since 2007.


mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top