Modifying Loans & Honolulu Real Estate
December 31st, 2008 categories: Mortgages & Financing
A recent article at Newsmax.com, leads me to believe that loan modifications may not be the panacea we have been hoping for.
“The ratio of loans modified in the first quarter that were delinquent a month or longer was 37 percent after three months and 55 percent after six months. The ratio of loans modified in the first quarter that were 60 or more days delinquent was 19 percent at three months and nearly 37 percent after six months.”
CLICK HERE TO READ THE ENTIRE NEWSMAX ARTICLE.
I don’t know how many barrowers in Honolulu have gone through loan modifications, but if the success ratio is similar to that reported above, lenders might be postponing the inevitable.
If you would like to speak with me about Honolulu real estate, feel free to call me at 808-737-2093 or toll free at 877-737-2093.
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