Number of mortgage modifications declined in third quarter:

12/29/2010 | Bloomberg

Fewer struggling homeowners qualified for mortgage modifications, contributing to a decline in the number of alterations in the third quarter, according to the Treasury Department. Mortgage servicers began more than 470,000 modifications in the third quarter, a 17% decrease from the second quarter, the Treasury's Office of the Comptroller of the Currency and Office of Thrift Supervision said. "You'll probably see some more stabilization now," said Bruce Krueger, lead mortgage expert for the Office of the Comptroller.

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