RealtyTrac reported in Kansas City Star that Missouri foreclosures increased by 5 percent in October. The rate means that one out of every 724 homes in Missouri is facing foreclosure. The rates of foreclosure properties in the state do not seem to be an isolated problem. RealtyTrac also reported that 1 out of every 452 homes in the country is also facing foreclosure problem.
The situation of the housing industry is, indeed, a nationwide phenomenon. It is for this reason that homeowners nearing foreclosures need all the help they could get. Good thing there are organizations like Catholic Charities of Kansas City-St. Joseph willing to contribute in helping decrease the number of Missouri foreclosures.
Catholic Charities is an agency certified by the Housing and Urban Development office. The Kansas chapter of the charity has received a $843,497 federal grant from the “Neighbor Works America” program of the national organization.
Catholic Charities of Kansas City-St. Joseph offers counseling for free. The organization hires volunteers to serve as housing counselors. Elizabeth Phillips, one of the charities’ volunteers, was hired last May. Philips shares that she has talked to 104 clients in the last 6 months that she has been with the organization.
Based on her experience, Phillips discovered that a lot of people get into foreclosure problems because they make loans that are too high for their steady income. She also cited that some of the people she has counseled do not even pay immediate attention to the fine print of their mortgage accounts. This habit, she says, leads to even bigger problem since homeowners do not know where they are heading into.
The organization helps homeowners manage and avoid their delinquent mortgages. Phillips personally advises homeowners not to hide from their lenders. She said that delinquent borrowers must seek a payment or negotiated term from their lenders as soon as possible.
Author Resource:-
Leticia Carvalho has been educated in the finer points of the foreclosures market over 5 years. Read about the following article Programs on Foreclosures Help Homeowners by Leticia Carvalho on DistressedPropertiesSale.com - Your online source for foreclosure properties.
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