Delaware County sees rise in foreclosures
Wednesday, October 28th, 2009
By: Elizabeth Fiedler
efiedler@whyy.org
Delaware County homeowners worried about mortgage foreclosure can now get free financial counseling and help working with lenders. The Sheriff's Office and County Council announced this Tuesday a collaboration on the Mortgage Foreclosure Diversion Program, where the Sherriff's office notifies homeowners how they can get help.
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Delaware County Sheriff Joseph McGinn says foreclosure numbers for the past five years stayed pretty even, but there's been a 70% jump in the number of properties up for Sheriff's sale this year. He says a lot of people who get caught up in mortgage foreclosures are overwhelmed.
McGinn: Having a program like this that says we're going to get you in touch with a credit counselor. That's the important thing because any loan modification or any fix that's going to work, you have to have you're financial house in order. Getting a professional in touch with them, that's getting the ball rolling.
McGinn and other officials say it's too early to know how many homeowners the program has helped. They says homeowners should reach out for help the minute they can't make a mortgage payment – not wait until they face foreclosure.