The number of homes classified as serious delinquencies fell 2% from March to April, as industry players continue to use short sales and other techniques, according to the advocacy group Hope Now.
Serious delinquencies fell to 1.78 million in April, based on delinquency data from the Mortgage Bankers Association.
"Hope Now's members and partners are focused on the regions that are still plagued by large numbers of delinquent borrowers," Eric Selk, executive director, said in a news release.
In April, the number of loan modifications totaled 44,000, compared to 43,000 in March. Loan modifications include transactions completed under the Home Affordable Modification Program.
Short sales totaled 8,300 in April, the same figure as March. Deed-in-lieu transactions rose to 2,000 from 1,900. Foreclosure starts fell 24% to 59,000 from 78,000. And foreclosure sales rose 1% to 32,000 from 31,000.
