Arizona effort aims to avoid foreclosures
My Take:
It’s a shame that people who recently purchased a home are facing foreclosure. I honestly don’t know what effect the increase in foreclosures is going to have in South Scottsdale becasue it seems to be more of a problem in the outlying cities (Queen Creek, Buckeye, Maricopa) . There aren’t many foreclosures in Scottsdale.
If I were to give some advice, to someone facing foreclosure, that would be to do something and not to ignore it. Lots of people facing foreclosure ignore it and hope it will go away. It’s not going away. Call your lender and see if something can be worked out. Banks and lenders can be reasonable if you try to work with them and show them your trying to correct the situation. That might mean selling your home or working out a revised payment plan. Trust me when I say, lenders don’t want to foreclose on home owners. It’s not their business. They want to make loans not sell homes.
Catherine Reagor
The Arizona Republic
Apr. 19, 2007 12:00 AM
A grass-roots campaign to help Arizona homeowners with bad loans stave off foreclosure launches today.
Armed with lists of people in the Valley and Tucson with subprime loans, members of the Association of Community Organizations for Reform Now plan to go door to door, offering help.
“We want homeowners facing foreclosure to know they have options,” said Sophia Tesch, a Mesa ACORN member. “There are many Valley victims of mortgage fraud and predatory lending.
Foreclosures in metro Phoenix increased tenfold in the past year. The number of people in danger of losing their homes is at a four-year high.
ACORN’s national Stop Foreclosures Campaign kicks off in Arizona at 10 a.m. on the state Capitol lawn. Similar campaigns are being launched in other cities with foreclosure problems.
ACORN is also calling for a nationwide one-year moratorium on predatory-loan foreclosures. The group’s help line is 1-866-67ACORN.
