Drop in pending loan modifications for metro Phoenix homeowners
L enders have permanently modified the mortgages of 18,409 metropolitan Phoenix homeowners through the federal government’s program to help people avoid foreclosure. That’s the tally so far for the Making Home Affordable Program launched in the spring of 2009.
Permanent loan modifications in metro Phoenix have climbed by 2,000 to 3,000 for each of the past few months. Foreclosures in the region have climbed by at least 4,000 a month so far this year.
What changed in July was the number of trial mortgage modifications fell significantly. At the end of July, there were 9,735 trial loan modifications underway in the region, down …
