Evelia MartinezSpecial Projects Manager
Don’t Borrow Trouble ® Pima CountyAPRIL 8, 2011
1 in every 173 homes received a foreclosure filing notice
66,000 homeowners have lost their home to the servicer
1 in 88 homes in the worst hit areas received a foreclosure filing notice
1 in every 146 homes received a foreclosure filing
1 in 12 reddest areas received a foreclosure notice
Foreclosure Filings 1 in every 85
homes received a foreclosure filing
1 in 13 homes in worst areas received a foreclosure filing
1 in every 246 homes received a foreclosure filing
1 in 41 homes in the worst areas received a foreclosure filing
DAYS
30 Days
60 Days
90+ Days Refer to Foreclosure
Current on Due Date
Collections Loss Mitigation –
Home Preservation – Work Out Plans
Concern that Upcoming Resets will Continue to Drive New Foreclosures
Monthly Mortgage Rate Resets (first reset in billions of US dollars)
Source: Credit Suisse: Assessing Risks to Global Financial Stability, p. 8. http://www.imf.org/external/pubs/ft/gfsr/2007/02/pdf/chap1.pdf Info from FRB Report: Arizona Foreclosure Trends
◦ Important to reach borrowers with ‘preventable’ foreclosures◦ Borrower Outreach Events◦ Expand use of foreclosure prevention workbook
http://www.pima.gov/current/2008_November%20English%20Workbook.pdf
◦ Making Homes Affordable◦ Federal program provides both loan modification and
refinance options Online form available that allows borrowers to assess if
they qualify for the program http://makinghomeaffordable.gov/eligibility.html
Tool created by the Pima County Foreclosure Prevention Coalition.
Designed to inform, educate and/or help deal with a potential foreclosure.
Download available at www.dbtaz.org
Professionals dedicated to foreclosure prevention familiar with lenders/servicers
Will help assess financial situation and develop a work plan
Assist with completion of a Request for Modification Affidavit (RMA)
Will serve as advocate with lender/servicer Discuss options available to you
FREE OF CHARGE/GRATIS!
EVELIA MARTINEZSpecial Projects Manager
DON’T BORROW TROUBLE ® PIMA COUNTY
A Program of the Southwest Fair Housing Council
(520) 792-3087