Mortgage foreclosure counseling and education Save Email Print
Posted: 5:13 AM Nov 12, 2007
Last Updated: 10:54 AM Jan 4, 2008

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State officials are trying to help Hoosier families save their homes. That is after a study by the Mortgage Bankers Association found that nearly 3% of all loans in Indiana are in foreclosure... that is more than twice the national rate.

Last spring, lawmakers passed a bill to establish a statewide program to provide free mortgage foreclosure counseling and education to at-risk homeowners.

Now officials have launched a web site and a telephone hotline to help those who have fallen behind on their mortgage payments.

The Indiana Housing and Community Development Authority is also targeting Hoosiers facing foreclosure with a public awareness campaign called "Don't let the walls foreclose in on you."

Officials say a recent study shows urban areas are the hardest hit by foreclosure and those areas are spreading each year.

Indiana trails only Ohio's foreclosure rate. Officials hope the free mortgage counseling can combat that.

If you need help the hotline is available 7 days a week... The number is 1-877-get-hope.

Or you can log onto the website... The Indiana Housing and Community Development Authority

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Posted by: Anonymous on Nov 29, 2007 at 06:17 PM
SidCo Properties helps a bunch

Posted by: Anonymous on Nov 12, 2007 at 05:34 PM
Mortgage companies are offering "100% financing" these days, to lure in people due to a struggling market. I urge people to understand that if they elect to do this, it will take them upwards of 5-7 years to gain any equity in the home with the market the way it is now. Several people are having appraisals done and finding that their homes are not what they were worth just 2 years ago, being that they are less, in some cases several thousand dollars less! This has everything to do with the market, and people having to sell their homes for significantly lower just to get out from underneath them! This affects ALL homeowners! Even though you may not be facing foreclosure, the amount of them and the "short sale" homes are skyrocketing, and it is affecting everyone's home values. This is an issue we all have to worry about! S in Elkhart,there are people out there who are very convincing that you can afford it when they want to make a commission or an origination fee! You are right though

Posted by: S Location: ELKHART on Nov 12, 2007 at 01:27 PM
GOT A IDEA. IT MAY SOUND A LITTLE OLD FASHION, BUT DONT GET IN OVER YOUR HEAD FINANCIALLY. TRY NOT TO KEEP UP WITH JONES AND FINALLY SAVE A LITTLE. YEA THE MORTGAGE COMPANIES PROBABLE GOT A LITTLE OVER ZEALOUS, BUT I DOUBT ANYBODY HAD A GUN PLACED TO THEIR HEAD TO SIGN THE PAPERS

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