Industry News

Workouts let thousands keep their homes

Real estate roundup
Published on Jul 31, 2008

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by CareyBot

Loan servicers report record workouts
The HOPE NOW coalition of mortgage loan servicers engaged in a record number of workouts with borrowers facing foreclosure in June and the second quarter of 2008, the group said today. Servicers completed more than 181,000 workouts in June and 522,000 in the second quarter -- loans that otherwise would have gone into foreclosure, the group said.