Distressed homeowners who obtained loan modifications fell to approximately 42,000 in February, a 5% decrease from the month before and a sign that the number of borrowers needing assistance is declining, according to the Hope Now alliance.

For February, a little less than 30,000 homeowners received proprietary loan modifications, while roughly 12,500 got their mortgage payments reduced through the Home Affordable Modification Program, the report said.

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