Recent mortgage loan delinquency reports indicated that 10% of homeowners in the United States are now in default with their lender. Mortgage loan modification experts forecast that in the next year or two that the number of borrower’s defaulting will double to more than 20 million households, with many others on the verge. This is nearing epidemic proportions, say industry professionals. With the fear of foreclosure and the threat of losing their houses, many homeowners remain discouraged because they have been turned down for mortgage refinancing. In addition, these borrowers are often misinformed about loan modifications and alternative mortgage relief solutions that may be available to prevent foreclosures.  The Loan Modification Buzz reports that consumers are fed up with low rate talk that in most cases is only available to homeowners who have high credit scores and tangible equity in their home.

1 Comment »

1. [...] Loan Delinquency Reports Indicate 10% of Homeowners Late on … [...]

   Pingback by Loan Delinquency Reports Indicate 10% of Homeowners Late on … | ozvq.com — February 3, 2009 @ 12:05 am

RSS feed for comments on this post. TrackBack URL

Leave a comment