WHAT YOU SHOULD KNOW
 

  • Mortgage servicers provided loan workouts for 183,000 at-risk borrowers in April. This is an increase of 23,000 from the number of workouts in March.
 

 

  • The total number of loan workouts provided by mortgage servicers since July 2007 has risen to nearly 1.6 million.
 

 

  • Nearly 106,000 of prime and subprime loan workouts conducted by mortgage servicers in April were repayment plans while 77,000 were loan modifications.
 

 

  • Nearly 603,000 subprime loans were scheduled to reset between January and April.
 

 

  • Of those subprime loans, 30,545 (5.0 percent) have already been modified. Nearly 63 percent of these modifications are for five years or longer..