Real Estate Pro Articles

Birmingham Nonprofit Groups to the Rescue

[Valid RSS feed]  Category Rss Feed -
By : Cassiano Travareli    99 or more times read
One of the most common problems of citizens in Jefferson County is about foreclosures. Families are troubled with mortgage bills continuously coming and them not having enough money to pay, making them feel that they are crashing. Of course, they want to avoid the foreclosure of their homes, but sometimes, they could not do it by themselves. But thanks to the initiatives of nonprofit groups in Birmingham, avoiding foreclosure is now possible.

The nonprofit groups in Birmingham such as the Neighborhood Housing Services of Birmingham Inc. and the Birmingham Citizens Advisory Board have earned credits from homeowners who have been saved from foreclosures.

The housing counselors from the Neighborhood Housing Services of Birmingham Inc have helped families by doing the negotiations with the lenders on their behalf.

The Birmingham Citizens Advisory Board holds a series of workshops that help families with foreclosure problems. In fact, the group has reached an 85 percent success rate, having assisted 75 families in workshops, and 15 cases resolved. This is evident in Jefferson County.

However, there are some citizens that let pride get in the way. They are ashamed of saving their homes, when there is nothing to be ashamed about. This is where housing counselors enter the scene.

What counselors actually do besides negotiating with lenders on a family’s behalf is reviewing a family’s financial background and aiding in coming up with a “crisis budget”. Also, other options that these counselors impart to families are: reduction in interest rates, loan term changes from adjustable to fixed rate mortgage, and suspension of payments. This just proves that there are other helpful ways than paying off overdue amounts.

For additional information, Alabama Title Co., Inc. has said that for over four weeks in September, there have been 250 foreclosures in Jefferson County, and 51 in Shelby County.
Cassiano Travareli has been educated in the finer points of the foreclosures market over 5 years.

Related Articles

Print This Article
Add To Favorites




© All rights reserved to Real Estate Pro Articles