What is your City, County or State doing to help the foreclosure problems?
What are the stats for foreclosure in your City, County, State or coverage area?
My major city of coverage is Stockton, CA. I found lots of good news on the website on what Stockton is doing to educate people of what to do if they are in danger of getting into foreclosure and what resources are available to them if they are in foreclosure. Here is what I found out.....
Stockton Reports Highest Metro Foreclosure Rate in Third Quarter. Stockton, CA reported one foreclosure filing per 31 households during the third quarter, up more than 30 percent from the previous quarter, with 7,116 foreclosure filings on 4,409 properties reported.
There are over 196,000 foreclosures in US. Stockton was rated with the highest number of foreclosures in the nation in October and have not improved much from that since.
Stockton, CA - Foreclosure Information as of December 10, 2007 |
Pre-foreclosures | 2865 |
Auctions | 848 |
Bank Owned | 2205 |
Owner Selling | 95 |
Resale | 91 |
New Homes | 0 |
Stockton, CA - Housing Market |
Median Home Price | $277,000 (October 2007) |
Average Interest Rate | 30 yr fixed 6.15%; 15 yr fixed 5.82% |
If you fail to make your mortgage payments, your bank or lender may issue an NOD, or Notice of Default. This is essentially a notice that you were late in making your mortgage payment and that legal action may be taken. If you continue to be delinquent, the bank or lender may repossess your home.
The question on what options do the City of Stockton gives to their homeowners, please check out the Foreclosure Prevention and Information on what foreclosures are and how to get help, check out: Foreclosure Prevention.
Foreclosure workshop was set given at the Stockton Arena on Dec. 1. 
How to Avoid Foreclosure (HUD) PDF. What is Foreclosre? PDF (English/Spanish) Six Steps to Managing Your Money (English / Spanish) Calculate your monthly budget (English / Spanish) Check out the California Budget Projects page for more ideas on budgeting www.cbp.org Understand your credit 'Dont Borrow Trouble' Find out if you qualify for an FHA loan HUD,Treasury, HOPENow Foundation 
HAPPY and SAFE HOLIDAY SEASON to you and your family & Friends!
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