Foreclosure rates rose by four percent in July. There were an additional 325,229 filings which is almost ten percent higher than compared to July 2009. It marked the 17th straight month of foreclosures over the 300,000 mark. “Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month,” James J. Saccacio, chief executive officer of RealtyTrac, said in a statement according to TheHill.com.
There is free help out there for people who are worried, concerned or fearful that a foreclosure may be looming in their future. The National Foundation for Credit Counseling is offering a free DVD called Avoiding Foreclosure. Here is a description of the free DVD provided on nfcc.org:
Avoiding Foreclosure is a consumer education DVD that introduces you to four clients who found themselves in mortgage trouble for different reasons and sought assistance from an NFCC-certified housing counselor. The DVD does several things. First, it introduces consumers to some of the terms and scenarios they are likely to encounter as they work to save their own home. Second, it familiarizes consumers with the process of avoiding foreclosure. Third, it shows examples of a variety of life situations and challenges facing individuals and families who are facing foreclosure and what they did (with the help of an NFCC-certified housing counselor) to address it.
Some NHCC agencies also offer free counseling for home owners. Just search for counselors in your area to see what services are available.