Thursday, July 23, 2009

Home Foreclosures Hit Record, States Are Finding Ways to Help

Bloomberg News reports that "more than 1.5 million properties received a default or auction notice or were seized by banks in the six months through June, ... a 15 percent increase from the year earlier. One in 84 U.S. households received a filing. ... One in eight Americans is now late on a payment or already in foreclosure." The State of Pennsylvania has announced a new program to assist families facing economic crisis. The “Get Help Now, Pennsylvania” initiative offers the assistance of volunteer attorneys, banking and mortgage professionals, and financial analysts association offices twice a week. (Hat tip to Front and Center) For policies to address housing foreclosures.

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