A flurry of new mortgage modifications have been issued in Arizona over the past week.
The latest round came Thursday, when a judge in Mesa ordered a modification of the homes mortgage for a total of $1,050,000.
That’s a decrease from the previous round that was $1.35 million.
The home will now be able to qualify for the low-rate modification.
The new mortgage is based on an annual income of $45,000, with a 3.8% interest rate.
The judge also ordered a reduction of the mortgage loan amount by $2,000 from $1 million to $800,000 in the second home.
The other modification was a modification for a home valued at $1-2 million, which was for $1 in property taxes and $200,000 for a $5,000 mortgage modification.
The total amount of modifications issued Thursday is $1 billion.