There Is a Lifeboat for Those Foreclosure Victims Who Are About To Sink

December 29th, 2008 | Tags: Foreclosure Victims

Despite the gloom the hope for the New Year is that there is a lifeboat for those foreclose victims who are about to sink. The gloom is that it is apprehended that there will be another rush of foreclosures in the forthcoming year.
Unemployment is at an all time high, real estate prices have tumbled to record low levels and credit is not available. In November nationally as well as locally foreclosure numbers had fallen temporarily because of temporary measures – measures that would make the holiday season bearable.
But the authorities and communities are getting ready for a January that will see a spike in foreclosures. All are waiting to see what Obama will do.
A spokeswoman of Northwest Side Housing Center apprehends that the foreclosure victims had been duped by a false sense of feeling that the worst was over during November. She said, “People have had this grace period. The issue is what are homeowners doing to get ready for when the moratorium is over.”
The housing sector is targeting to help more borrowers before they begin to default. Organizations are gearing up their efforts to reach the victims. On 10thJanuary 2009, lawyers that deal with real estate will offer advice for free to those who are at risk. This will be part of the foreclosure help and assistance measures. The attorney’s have set up a fund – Title Guaranty Fund Inc. It has been offering legal help for quite some time but now it feels that the time has come to spend one morning for foreclosure issues, considering the proliferation of rescue scams that are leading the borrowers into more trouble. A hotline has been set up that will help those in the initial stages of foreclosure. They will know where to look for help. The hotline will direct the callers to the right counseling groups.
Hank Shulruff of ATG said, “ We’re trying to prevent people from falling victim to scams and steer people in the right direction. To the extent that people are just falling behind on their mortgage, we’re trying to give them steps to fix things. There are so many types of rescue scams and loan modifications scams out there. They’re not all scams but you shouldn’t have to pay upfront to get help.”
ATG is also joining hands with other similar groups and also a credit union to reach consumers in 2009.
Via