Foreclosures Prevented

The foreclosure crisis is easing everywhere except New York and New Jersey according to the Federal Housing Finance Housing Agency (FHFA), which oversee Fannie Mae and Freddie Mac. Mortgage modifications are making a big difference for a lot of homeowners. FHFA says Fannie and Freddie helped prevent more than 540,000 with loan modifications in 2012.

Lower Payments

In addition, 46 percent of homeowners who had mortgage modifications lowered their payments by more than 30 percent.

 

 

 

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Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.