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Here is the latest numbers on borrowers who have avoided foreclosure with a Short Sale in Lodi and the Stockton Area.

Servicers conducted short sales or deeds-in-lieu of foreclosure on 35,496 properties with mortgages that have either fallen out of the trial stage or never qualified for one under the Home Affordable Modification Program (HAMP).

The Treasury Department released statistics on these mortgages that were held by eight servicers: Bank of America, Wells Fargo, JPMorgan Chase, CitiMortgage, GMAC, Litton Loan Servicing, OneWest Bank, and American Home Mortgage Servicing.

In total, these companies reported 409,981 loans that were canceled from a HAMP three-month trial. In order to become a permanent modification, a borrower must make three monthly trial payments. The servicers canceled these trials for either insufficient documentation, another default during the trial period, or the mortgage was already 31% of the household’s monthly income.

Of these canceled trials, 2.3% were either put through a short sale or a deed-in-lieu of foreclosure, equaling 9,373 properties.

For these same servicers, the Treasury reported 618,828 loans that were never accepted into HAMP either because the loan was already 31% of the household’s monthly income, lack of documents, or the servicer determined imminent default.

Of these, 4.2% were either put through a short sale or a deed-in-lieu of foreclosure, according to the report, for a total of 26,123 properties.

The Home Affordable Foreclosure Alternatives (HAFA) program was launched in April to provide incentives to servicers to put mortgages once considered for HAMP into short sales or deed-in-lieus.

A spokesperson for the Treasury could not confirm how many, if any, of these transactions were done through HAFA. The Treasury is expected to release a report on the program this fall.