A poll of late-paying mortgage borrowers finds that 57% aren't aware that their lender may be able to offer plans that would help them avoid foreclosure. However, when specific workout alternatives were mentioned, the percentage of homeowners aware of options like repayment plans and loan modifications actually increased. The poll, commissioned by Freddie Mac and conducted by Roper Public Affairs and Media, also found that 44% of delinquent borrowers are aware of the existence of housing counselors who can talk to them about their mortgage problems. The survey indicated that the percentage of delinquent homeowners who say they recall their mortgage servicer reaching out to them has increased, to 86%, up from 75% in a similar survey three years ago.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
July 11 -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
July 11 -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11