Mortgage foreclosure crisis hits California hard. The foreclosure rate grows as California's number of home owners shrink. Mortgage foreclosures is the biggest problem in America today and Congress needs to help.
In San Bernardino County, CA last year, more than 7,700 homeowners lost their homes to foreclosure a 719 percent increase in just one year. Think about it, even in a large county like San Bernardino that number is unbelievable. Some 43 states saw an increase in foreclosure filings over the last year, with Nevada, Florida and Ohio charting higher. Nevada, California's neighbor to the east is in desperate trouble now. Nevada has had the highest foreclosure rate in the nation for the 13th month in a row. The state had 6,694 filings in November, up 167 percent from November 2006.
My suggestion to those of you in trouble is, call your mortgage company if there is any chance you can work it out they will. They do not want your house - they want your money. Ask them about the government's plan "Making Homes Affordable". There is no credit criteria. There is an income threshold. In other words , you need enough money to make some kind of payment. Under the Obama plan, your mortgage company (servicer) gets incentives to lower your interest, waive some fees, even do away with your second if possible. Whatever it takes within reason but you have to answer their calls or call them yourself.
Again they don't want your house they want your money. Call them! There is hope...