Loan modifications declined 18% during the third quarter to 337,000, a sign of an improving market, according to Hope Now.
The Washington, D.C.-based consortium of mortgage servicers, investors and other market actors counted about 98,000 permanent loan modifications and 21,000 short sales between July and September.
Meanwhile, Hope Now noted, the third quarter saw approximately 76,000 completed foreclosure sales — a 15% decrease from the second quarter. Foreclosure starts numbered 159,000, a 26% drop.
"Our third-quarter loan solution data continues to show evidence of an improving housing market on a national level," said Eric Selk, Hope Now's executive director, in a Nov. 30 press release.
"When we reach the end of the year, I believe that the last quarter of data will also show continuing trends towards a healthy housing market."
