There have been an increasing amount of mortgage loans that were modified or paid up to date. Many homeowners are able to work deals out with their lenders, but many are falling short in keeping up with their new agreement. This may largely be due to the increasing loss of jobs. There have been more than 250,000 homeowners that worked a modification or a repayment plan in February.

There were more than 130,000 modifications that were able to lower the interest rate or reduce the principal of the home. February saw more foreclosures than in past months. In January there were a little more than 210,000 foreclosures and last year the numbers ran less than a 100,000 for each month.

There were 87,000 homes repossessed by banks in February. This took a 28 percent jump from the previous month. There were 77,000 foreclosures in October, 2008 and in November there were 69,000. In December there were moratoriums that occurred allowing more time for homeowners to work out a plan with their lenders. Therefore, in December there were 56,000 foreclosures which was a big decrease from the previous months. Once the holidays were over and most of the moratoriums ran out the numbers increased once again to double the amount that were seen before. With the new bill passed by President Barack Obama they hope to be able to deter most of the foreclosures.