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New Mortgage Foreclosure Help Available

New Mortgage Foreclosure Help Available - Wednesday, April 16, 2008 at 4:58PM EST

Reported by: Laurie Monteforte
Wednesday, Apr 16, 2008 @ 04:58pm EST
MARSHALLS CREEK, MONROE COUNTY- The door has closed on the dream of home ownership for hundreds of people in the Poconos this year. Monroe County has already had more than 350 foreclosures and the number keeps growing. If you are one of the people facing foreclosure, there is help.

When her house caught fire a few years ago Louise Prioleau T. Fletcher needed to refinance to make repairs. She says her lender smooth talked her into signing and adjustable rate mortgage.

"You think you're getting something free or extra but in reality you're not, two years later you find out it's a whole different story," she remarked.

Now her mortgage bill goes up $200 every four months. She wasn't sure how she would deal with it until she heard about free foreclosure counseling at State Representative John Siptroth's office in Marshalls Creek.

Counselor Jill Moyle said, "Our job is to mostly give you correct information and guidance through this process. There are no guarantees."

The United Neighborhood Centers counsels homeowners at Siptroth's office every Wednesday morning. In the past they offered the service in Lackawanna County but the growing foreclosure problem in Monroe and Pike counties forced them to find office space there.

"We're just trying to meet as many people as we can get the awareness out there that people do have options," said Moyle.

Counselors say for a while most of the problems they saw were inflated appraisals and other mortgage scams but now that's starting to change. "A lot of people are running into now - it's due to the job loss and the economy," said Moyle.

The combination could lead more Monroe County homes into foreclosure than ever before. The counselors say don't give up, they might be able to help.

And Louise says if you are going to buy or refinance a home learn a lesson from her mistake. "I think you should get a lawyer to go over all your papers before you sign," she encouraged.

If you would like to make an appointment with a home counselor call 570-434-8835.
 


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