The Robbo Report

Foreclosure Mortgage Modifications Hit Record High ·

CNBC: U.S. mortgage companies increased their use of loan modifications in foreclosure prevention efforts to a record level in December, an industry group said Thursday. Modifications, or permanent contract changes to lower payments, reached 122,000 in December, compared with the previous high set in October, said Hope Now, a coalition of mortgage servicers, lenders and counselors.

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