by Moe Bedard
Mr. White found that mortgage modifications peaked in February and have declined in all but one month since. While servicers modified 23,749 loans in these trusts in February, they changed only 19,041 in May and 18,179 in June. This is exactly when servicers were supposed to be responding to the government’s loan modification urgings.
Foreclosures, meanwhile, [...]
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by Moe Bedard
TOURISM: Values Have Declined 50% to 80% in Last 3 Years, Broker Says
The number of California hotels that are in default on their loans or have gone into foreclosure has jumped a whopping 125 percent in the past 60 days.
There were 32 properties in foreclosure and 174 in default, according to a June 28 report [...]
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