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Foreclosures skyrocket, State tries to help

Foreclosures skyrocket, State tries to help

By Amy Cherry WDEL
Updated Monday, June 14, 2010 – 12:46pm

WDEL’s Amy Cherry reports. Audio Here

Foreclosures skyrocket here in Delaware over the past 12 months, and now, state officials are meeting at a foreclosure summit to come up with ways to combat the challenge.

The seed was planted with the subprime mortgage crisis, and the problem has gotten worse. Foreclosure filings in Delaware tripled over the last year to 6,500.

Anas Ben Addi, Director of the Delaware State Housing Authority, says there’s a number of state programs that can help struggling homeowners.

“The Delaware Emergency Mortgage Assistance Program that offers up to $15,000 deferred loan. We have H-GAP that offers a grant for $5,000.

He offers this advice to anyone who fears losing their home.

“Call your lender. Your lender is not a property manager. They’re not in the real estate business. They’re not interested in owning your property. They will be the first to work with you to keep you in your house.” DinSFLA: Obviously, he is not in the real world, They are not helping! If a lender is selling bank owned this makes them “in the business”.

For those, who’ve already fallen over the edge and filed for foreclosure this year, Ben Addi says there’s help for you too.

“The Neighborhood Civilization Program that helps community rehab and sell. We have rental assistance for folks, who went through foreclosure, and we’ll be talking about this – how can we better use it and get the word out.”

© 2010-18 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

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