Loan Modification Dropouts Mean More Foreclosure Houses
According to the Treasury Department the number of people who are dropping out of the President'sloan modification program is outpacing new arrivals
. According to statistics that were released on Friday, almost 700,000 of the 1.3 million loan modifications that had been started were canceled. That will most certainly mean moreforeclosure houses on the market in the near future.
This has a lot of experts in the field predicting the number offoreclosure houseswill remain constant or even rise over the next short while. Even though the government has said the loan modification program would be instrumental in helping over four million people stay in their houses, the July statistics report that the number offoreclosure housescontinues to mount.
Even the number of foreclosure completions has been rising steadily as the number of cases work their way through the system. All this means there is more opportunity than ever before to get involved and buy yourself one of theforeclosure houseson the market.
It's important that you take advantage of modern technology and have a good look at all the listings nationwide on ForeclosureConnections.com. Here's the place that has over a decade of experience in the foreclosure real estate industry. Their team strives to use a network of professionals to crisscross the nation looking for the most up-to-date information onforeclosure houses.
It's important to keep on top of all the recent developments when you're looking to get involved and if you need to know if the team that you have on your side has the most experience and the kind of credentials that will help you to your end goal.
Remember that as each loan modification fails, the glut offoreclosure houseson the market grows and while 37,000 people received a loan modification in July, which number was drastically down from 51,000 in June.
Loan Modification Dropouts Mean More Foreclosure Houses