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Washington State

Office of the Attorney General

Attorney General

Nick Brown

Redefault rates on loan modifications are dropping, say state attorneys general and banking regulators

State Foreclosure Prevention Working Group report urges additional efforts to help homeowners

OLYMPIA – Following concerted efforts to prevent unnecessary foreclosures, the Washington Attorney General’s Office and a group of other state attorneys general and banking regulators say they’ve seen improvements in programs designed to help homeowners. But they’re concerned that foreclosures continue to outpace loan modifications, and note that most modifications increase the loan balance.