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More loans going bad, but more get help

Report: Rising delinquencies not translating into foreclosure starts
Published on Jan 12, 2010

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by CareyBot

More homeowners fell behind on their payments during the third quarter of 2009, but fewer were funneled into the foreclosure process as loan servicers engaged in more loan workouts, modifications and short sales, according to a new report.

Foreclosure starts on loans guaranteed by Fannie Mae and Freddie Mac fell 15 percent from the second quarter to the third quarter, the Federal Housing Finance Agency said in its quarterly Foreclosure Prevention and Refinance Report.

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