New laws, hotline aim to prevent foreclosure

By Ed Ernstes (ernstes@wsbt.com)

Tools

New laws, hotline aim to prevent foreclosure

(WSBT file photo)

By Beth Boehne

Story Created: Jun 29, 2009 at 5:42 PM EST

Story Updated: Jun 29, 2009 at 5:45 PM EST

ELKHART — The nation's sluggish housing market continues to be crippled by home foreclosures. In fact, Indiana ranks eighth in the country when it comes to foreclosures. But some new Indiana laws will soon help protect local homeowners.

It's a simple case of cause and effect — people lose their jobs and then lose their home to foreclosure. In Elkhart, those cases have been rising in recent months.

“We don't want people to go in foreclosure, not only because it impacts the city and our budget and our manpower, but also the city is built on its residents and people staying in our community,” said Elkhart Community Development Manager Crystal Welsh.

Goshen is also seeing an increase. With that comes related problems like vandalism, vagrants living inside, and health and safety issues.

“We've been trying to keep track of the foreclosed properties,” said Goshen Community Development Director Mark Brinson. “We have an inventory that we try to keep up to date as often as we can.”

But this isn't just a county-wide problem; it's a state problem.

“This is a particularly problematic time with the economy,” explained Indiana Attorney General Greg Zoeller. “I know in Elkhart County particularly there's a very, very high rate of mortgage foreclosures.”

Zoeller was in Elkhart Monday to tout several new laws. From making it a crime to influence an appraiser to allowing homeowners to negotiate face to face with their lenders, all are aimed at protecting people from falling into foreclosure.

On Tuesday, the state is holding a one-day foreclosure hotline. Each Indiana county has a phone number for residents to call to speak with a foreclosure prevention specialist, attorney or qualified volunteer.

It’s advice that will hopefully keep many of our neighbors in their homes.

For more information on the state mortgage hotline, click on the link in the Related Content box.

More Good Stuff

WSBT Weather

icon
Current Temp 39.3
°
More Weather

On Demand

More On Demand

Stock Quotes

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Tonight On WSBTFull Schedule

7.00
Paid Programming
7.30
Jeopardy
8.00
The Mentalist
9.00
48 Hours Mystery
10.00
48 Hours Mystery
11.00
WSBT News
11.35
CSI: NY
12.35
CSI: NY
1.35
CSI: Miami

Question of The Day

Will the new health recommendations for women change your health screening habits?

E-mail your comments. We'll pick some to read during WSBT News at 5.

  • YES
  • NO
Today's Mortgage Rates