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MBA Touts Role in Helping Mortgage Borrowers
By admin | January 18, 2008
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...
Topics: Mortgage News |