Since the beginning of the mortgage crisis, many experts have blamed the explosion in foreclosures on risky sub-prime loans. But USA Today reported recently that the rate of foreclosure for prime borrowers has been increasing, mainly because of rising unemployment rates. To read the rest of the article, CLICK HERE.
Here is updated information from the Treasury Department.
Website for Obama Foreclosure Mitigation Plan – CLICK HERE
Housing Counselor Q & A – CLICK HERE
Teasury Department Press Release – CLICK HERE
Home Loan Modification Program Guidelines – CLICK HERE
Summary of Guidelines – CLICK HERE
Fact Sheet – CLICK HERE
Get out your pens and pencils because it’s time for another this Friday the 13th edition of Tip of the Day! This video features Eric Madkins, Director of Housing and Foreclosure Intervention, for the Urban League of Metropolitan St. Louis and Karen Wallensak, Director of the Catholic Charities Housing Resource Center. They recommend for homeowners who are in trouble with their mortgage to seek help from trusted housing counseling agencies. To get connected to these agencies you can call the United Way’s 2-1-1 information referral service at 1-800-427-4626 or visit their website at www.211missouri.com.
If you or someone you know is at risk of foreclosure – or is about to miss a house payment – there is help available. If you’re in the St. Louis region you can call the United Way’s 2-1-1 referral service to get connected to a Housing Counselor who may be able to help. For a referral call 1-800-427-4626 or visit their website at http://www.211missouri.org/.
Below is a description of what a Housing Counselor is and what they do.