Citigroup has recently made an announcement that the company helped nearly 108,000 mortgages avoid foreclosure for the second quarter.  This is nearly a 30% increase in the number of individuals that it helped avoid foreclosure in the first quarter.  The number of foreclosure modifications to foreclosures was nearly a 12 to 1 ratio for the second quarter according to reports.

This is very promising for many individuals facing foreclosure.  The more foreclosures that are able to be prevented,  then the housing market and many other sectors of the economy may begin to see improvement and stabilization. 

If you are facing foreclosure, contact the Maryland mortgage modification attorneys of Chaifetz & Coyle, PC at 443-546-4608.