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New Payment Plans Relative to New Foreclosures

January — June 2008

New payment plans as a percentage of new foreclosures during each month increased slightly in the second quarter from 50.27 percent in March to 50.87 percent in June.

While the percentage increased for Alt-A and other loans, it declined for prime and subprime mortgages.

New payment plans as a percentage of new foreclosures were highest for subprime mortgages at the end of the reporting period at 53.26 percent and lowest for prime mortgages at 24.53 percent.

 

New Payment Plans
(% of new foreclosures)
Jan-08Feb-08Mar-08Apr-08May-08Jun-08
Prime23.57%24.76%24.66%24.34%21.14%24.53%
Alt-A44.24%44.83%49.98%52.62%45.65%53.26%
Subprime67.82%70.50%83.25%82.90%68.05%78.06%
Other78.13%68.72%72.81%75.34%72.15%76.27%
Overall48.61%47.85%50.27%50.86%44.11%50.87%

  New Payment Plans (% of new foreclosures)  


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