August 2012To: Fast Facts List
Fast Facts: RECOVERING HOUSING MARKET
“We’re past the bottom and slowly recovering.”
, Chief Economist at Moody’s Analytics,
Recent housing data gives reasons for optimism in the mortgage market:
have been on a decreasing trend since March.
Many homeowners who fell behind on payments during the crisis have received permanent solutions.Since 2007, the industry and government have completed over 5.57 million
4.54 million permanent proprietary (industry) modifications
1.03 million permanent HAMP (government) modifications
Of the proprietary modifications completed in 2012:
a voluntary alliance
between counselors, mortgage companies,investors, and other mortgage market participants
continue to help homeowners in distress stay in their homes.
Since 2008, HOPE NOW has hosted 133 events in over 60 major markets, including military bases.
In 2012, HOPE NOW has helped 300 military
service member homeowners through “on base events” at
Fort Jackson (SC) and Fort Gordon (GA).
HOPE NOW will continue targeted military outreach through the second half of 2012 with visits to: FortLewis, WA (09/27); Fort Hood, TX (10/16); Fort Lee, VA (10/30), Fort Stewart, GA (TBD); FortBragg, NC (TBD).