Nearly One-Quarter of Distressed Homeowners Obtain Loan Modifications

An intriguing new survey by the Massachusetts Association of Community Development Corporations finds that nearly one-quarter of homeowners facing foreclosure who sought counseling were able to obtain a loan modification from their mortgage lender. Drawing from 1,143 people who have sought assistance from non-profit agencies providing housing counseling, the survey also contains information about the percentage of successful resolutions, an overall satisfaction rating by counselors, and a lette

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