Keller WIlliams Luxury Logo
Home » Banks Are Trying To Help

Banks Are Trying To Help

by | Sep 18, 2008 | Financing | 0 comments

Top U.S. banks and thrifts tried harder in the second quarter to modify problem loans, but that didn’t keep more home owners from falling into foreclosure.

Lenders modified 112,353 first-lien mortgages, an increase of 56 percent from the previous quarter, according to data, issued jointly by the Office of the Comptroller of the Currency and the Office of Thrift Supervision.

Meanwhile, new foreclosures rose to 288,740 in the second quarter from 278,857 the previous quarter.

This data represents about 60 percent of all mortgages outstanding. At the end of June, the 14 institutions covered in the report serviced more than 34.7 million first mortgage loans, totaling $6.1 trillion in outstanding balances.

Courtesy of Reuters News, John Poirier

Recent Posts

Big Island Featured Restaurant & Activity for April

Big Island Featured Restaurant & Activity for April

Featured Activity: Kuleana Rum Works Mai Tais is one of Hawai`iʻ s iconic cocktails, but did you know Hawai`i Island is also home to Kuleana Rum Works, a company which crafts award-winning rum from the fresh juice of sugar cane grown on its farm in North Kohala? If...

read more
I’m the Short-Term Guy!

I’m the Short-Term Guy!

I took a phone call from a consumer this week and as we started the phone call, he said to me, “Hey, you’re the short-term guy”! At which I replied, “What?” He said, “Yeah, I watch all your YouTube videos on short term vacation rentals and they’re valuable...

read more
February Sales Stats for the Big Island Resort Areas

February Sales Stats for the Big Island Resort Areas

With the exception of Kūki`o, all the resorts showed some sales activity in February. Single digit home sales were reorded in Kohanaiki, Mauna Lani Resort and Kona Hills; Hualālai led the way with three home sales. In the condominium market, Kohanaiki and Waikoloa...

read more
Big Island Featured Restaurant & Activity for March

Big Island Featured Restaurant & Activity for March

Featured Activity: Hulihe`e Palace Maybe you’ve heard about it; maybe you’ve walked by it as you’ve strolled Ali`i Drive. If you are interested in Hawai`i’s history and you haven’t toured Hulihe`e Palace, perhaps you should. Hulihe‘e is a museum showcasing artifacts...

read more

Recent Listings

Call Now