An estimated 39,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month of October, according to HOPE NOW’s monthly loan modification data.

This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program.

The combination of total loan modifications, short sales, deeds in lieu and workout plans were approximately 157,000, compared to approximately 39,000 foreclosure sales for the month.

In addition, since the beginning of 2014, mortgage solutions continue to outpace foreclosure sales by a margin of four to one. 

Of the permanent loan modifications completed in the month of October, an estimated 29,000 were through proprietary programs and 10,023 were completed through HAMP.

“Loan modifications and total workout solutions continued at a steady pace in the month of October. We still see these solutions outpacing foreclosure sales by a large margin. In fact, the number of completed foreclosure sales has remained flat for most of 2014. This is further evidence of a housing recovery nationwide,” said Eric Selk, executive director.

Meanwhile, foreclosure starts declined in October, with approximately 65,000 for the month, compared to 77,000 in September – a decrease of 15%.

Delinquencies of 60 days or more were under two million – at approximately 1.91 million. This represented a slight decrease (2.3%) from the previous month (1.96 million).

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