The number of loan modification made in April dropped 4% from the previous month, according to data released Tuesday by the Hope Now alliance.
Roughly 31,000 loan modifications were made in April versus 32,000 in March, Hope Now reported. Overall, nonforeclosure solutions totaled 117,000 for the month, as compared to about 28,000 foreclosure sales.
And foreclosure sales also decreased 6% month-over-month from 29,000 in March.
Hope Now found that there were around 6,300 short sales completed in April, a decrease of 15%, and 1,700 deeds-in-lieu, also a decrease of 18%.
Foreclosure starts fell to 50,000 in April, compared 59,000 in March, for a 16% drop.
