Would your parents be happy if you came home with a report card full of C+ marks? That would probably be the grades that the Obama Administration’s Housing just released Scorecard. The scorecard reflects the overall housing market and while March data offered some signs of improvement, many areas remained mixed.
The good news bad news looms in the distressed area as mortgage delinquencies continued a downward trend but the numbers were substantially down from a year ago.
With all of the statistical hoopla that the servicers and government bandies about we looked at the HAMP activity in the San Francisco-Oakland-Fremont area. These numbers often don’t reflect what is going on as servicers often offer trail mods to make the numbers look good but don’t offer real help for the homeowner.
Trial Modifications Started – 30,918
Active Trial Modifications – 1600
Permanent Modifications Started – 18,965
Active Permanent Modifications – 16,680
Total Active Modifications – 18, 280
% of Total Active Modifications – 2.1%