Despite helping 244,000 at-risk homeowners with loan modifications and repayment plans in February, the Hope Now alliance says the number of foreclosures continues to rise and foreclosures involving prime loans topped subprime by a significant margin.

The alliance of 28 servicers reported that foreclosure sales increased to 87,000 in February, up from 68,000 in January. Meanwhile, foreclosure sales involving prime loans jumped to 55,500 in February from 30,400 in January. Foreclosure sales involving subprime loans fell to 31,800 in February from 37,700 the previous month.

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