The foreclosure crisis is easing everywhere except New York and New Jersey according to the Federal Housing Finance Housing Agency (FHFA), which oversee Fannie Mae and Freddie Mac. Mortgage modifications are making a big difference for a lot of homeowners. FHFA says Fannie and Freddie helped prevent more than 540,000 with loan modifications in 2012.

Lower Payments

In addition, 46 percent of homeowners who had mortgage modifications lowered their payments by more than 30 percent.