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» VISIT US ONLINE @ DSNEWS.COM 7 A look at facts you didn't know you couldn't live without. Compiled by the DS News Staff TAKE A LOOK INSIDE THE NUMBERS D ATA B I T S Foreclosure inventory in the U.S. totaled approximately 605,000 in October 2014, a 30.9-percent decline from October 2013, according to CoreLogic. All states except for West Virginia reported year-over-year double-digit declines in foreclosures in October 2014; foreclosures declined in the Mountain State by 8.9 percent in October, according to CoreLogic. HUD, TREASURY ANNOUNCE ENHANCEMENTS TO MORTGAGE LOAN MOD PROGRAMS PAGE 22 INSIDE THE JOURNAL // MOVERS & SHAKERS // ON THE WEB // THE APP SPECTRUM Source: RealtyTrac (as of November 2014) FIVE MINUTES WITH Jordan Dorchuck TOP 10 STATES WITH THE HIGHEST FORECLOSURE RATES 1 Florida 462 2 New Jersey 478 3 Maryland 581 4 Delaware 693 5 Utah 750 6 Nevada 783 7 Illinois 848 8 Ohio 865 9 Indiana 932 10 South Carolina 933 State 1 Foreclosure Per X Housing Units Ranking THE 10 STATES WITH THE LOWEST FORECLOSURE RATES 1 South Dakota 12,545 2 Montana 10,698 3 West Virginia 8,822 4 Vermont 8,709 5 Mississippi 5,663 6 Arkansas 5,604 7 Nebraska 3,575 8 Kansas 3,369 9 Missouri 2,933 10 Wyoming 2,723 Ranking State 1 Foreclosure Per X Housing Units e U.S. Department of Housing and Urban Development (HUD) and Department of Treasury have announced enhancements to the government's Making Home Affordable (MHA) program to assist homeowners who are struggling to make monthly mortgage payments. e enhancements are designed to make monthly mortgage payments affordable for homeowners in MHA who are struggling, to strengthen the safety net for homeowners facing financial hardships, and to help stabilize communities most affected by the financial crisis by helping homeowners in MHA build equity in their homes. "T[he] announcement signals our commitment to helping more hardworking families continue the American dream of homeownership," HUD Secretary Julián Castro said. "ese enhancements will expand the opportunity for more folks to stay in their home, stabilizing local communities and continuing our nation's positive economic momentum." e Home Affordable Modification Program (HAMP) was established by HUD and Treasury in 2009 to provide relief for homeowners facing financial hardship by reducing monthly payments to affordable levels through lowered interest rates and modified loan terms. Under current HAMP terms, borrowers who stay current on their mortgage payments following modifications can earn as much as $5,000 in outstanding principal reduction over the first five years of the modification. With the revisions to the guidelines, HAMP homeowners will be eligible to earn another $5,000 in principal reduction in the sixth year of the modification, making them eligible for up to $10,000 in principal reduction. Also, now homeowners will have the opportunity to lower their monthly mortgage payment through re-amortizing the reduced balance. According to HUD, approximately one million homeowners who have received modifications through HAMP are eligible for the increased incentive. EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL, AND CHIEF COMPLIANCE OFFICER FOR BSI FINANCIAL "These enhancements will expand the opportunity for more folks to stay in their home, stabilizing local communities and continuing our nation's positive economic momentum." —Julián Castro

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