Foreclosure help

I attended a fantastic foreclosure prevention workshop on Wednesday. There was a panel of experts, including Catherine McClary, the Washtenaw County Treasurer, Tery Allon, Prevention Foreclosure Specialist at the Housing Bureau for Seniors and Rachael Holmes from Legal Services of South Central Michigan. Despite the fact that Washtenaw County has been hard hit with foreclosures this past year, I left feeling grateful for these women and their hard work and the fact that there would have been many more foreclosures if it weren't for them and others like them. If you are facing problems paying your mortgage each month or if you are behind in paying your property taxes, get help! I was surprised to learn (in a previous training, actually) that more than 50% of people who lose their homes never even speak with their lender. Avoidance and denial can be powerful defense mechanisms, I understand, but they don't save your home! Many banks are willing to work out plans to avoid foreclosure. Loan modification is one example. This might entail the bank agreeing to change the terms of your loan, including your interest rate. Remember, it is in their best interest to save your home too. Housing Specialists at the Treasurer's office are happy to give you advice on these issues. The phone # is 734-222-6000. Maybe the most remarkable thing I heard at the workshop was that Catherine McClary has never had to do a tax foreclosure on a home that is still occupied. She has achieved this by doing everything in her power to reach the owners and work out a plan. I will certainly vote for her to be re-elected in November! The Ann Arbor Observer also just ran an article about foreclosures in their March addition which is very informative. If you are in trouble, don't hesitate to get help!