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One in Three Modifications Result in Lower Payment: Report

By DIANA GOLOBAY

Despite increased efforts to prevent foreclosures, only 35 percent of voluntary mortgage modifications reduced monthly payments; 20 percent of modifications had no effect either way on the payment amount and nearly half of all modifications #8212; 45 percent #8212; resulted in an increased monthly payment, according to research reported Thursday by Valparaiso law professor Alan [...]img src="http://feedproxy.google.com/~r/HousingWire/~4/od_4RWADfRY" height="1" width="1"/

Full post as published by Housing Wire on December 19, 2008 (boomark / email).