Loan Modification 60+ Re-Default Rates

Third Quarter 2008

For loans modified in the first quarter, more than 19 percent were 60 or more days delinquent or in foreclosure after three months. That rate grew to nearly 37 percent after six months. For loans modified in the second quarter, that rate was more than 21 percent after three months.

Modified Loans 60+ Days Delinquent (60+ Re-default Rate)
	Three Months After Modification	Six Months After Modification
First quarter 2008 loan modifications	19.18%	36.90%
Second quarter 2008 loan modifications	21.38%	--

Total % of Modified Loans 60+ Days Delinquent (% of all loans modified in each quarter)

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