Hope Now’s Numbers Mostly Going In The Wrong Direction

Hope Now, the alliance of banks, mortgage servicers and non-profit mortgage counselors, came out with its July data this week and the numbers still look bleak.

While the actual number of foreclsoures in the month declined 3% to 89,100, the number of borrowers 60 days or more past due on their loans rose 6% to 3.1 million. The number of folks entering the foreclosure process increased 12% to 283,000.

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