Loan Modifications endorsed by lawmakers

NEW YORK, Oct 2 (Reuters) - U.S. mortgage servicing companies permanently eased terms on about 79,000 home loans in August, slightly less than in July, suggesting the practice aimed at preventing foreclosure may be leveling off, according to data published by an industry group on Thursday. Servicing companies, which collect payments and distribute the money to investors, modified 78,853 loans in August, down from 80,097 in July, said data from Hope Now, a coalition of mortgage lenders, servicers… More information...

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