In an article from Housing Wire, author Jon Prior explains that 30% of FHA mortgages that go through the modification process, end up defaulting again within one year.

This is a staggering number, and gives further ammunition to those who believe the modification process isn’t worth the cost.  Imagine any business or service provider that failed at a 30% rate.  They wouldn’t be in business for very long.  The only silver-lining is that this 30% rate or re-default has actually decreased from years past.

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