Report: More than one in 10 Texas homeowners behind on payments

I do not know how Mortgage Bankers Association chief saw "end of the unprecedented wave of mortgage delinquencies and foreclosures", but I just see more trouble down the rode in this article.

"The number of homes going through foreclosure slowed in 2009 because of the large number of home mortgage modification programs designed to help troubled borrowers. " but "But foreclosure filings remain high – reaching a record of almost 61,000 in North Texas last year."

Question, if the foreclosure filing remains high, what is the guarantee that these modified loans will not delinquent again with in few months?!

According some experts the loan mods that brokers are selling,...... are new and improved variations on the exotic mortgages that seduce borrowers in the first place." Katz worries that mortgage servicers will take advantage of distressed borrowers with modifications that won't ultimately help them

Here it the article in Dallas Morning News.