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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Foreclosure Rate's are on The Rise


A report came out by Lender Processing Services stating that the foreclosure rate was 30 times higher this month than last month.  Homeowner's that are in foreclosure have been late on their mortgage payment by an average of 538 days. There are over 30% of homeowners who have not made a mortgage payment in over 2 years. One of the reasons for this huge mess is due to the "rob signing" problem.  Homeowner's that are in a option arms loans showed that there were 23% more homeowners facing foreclosure in the last 6 months. The option Arm loan is being labeled as the worst type of loan to be in.