There's local help to avoid a foreclosure
SEATTLE -- Foreclosures are taking a toll on tens of thousands of homeowners in our state.
According to Realty Trac, more than 31,000 housing units were foreclosed in October in our state.
Pierce and Thurston Counties had the highest foreclosure rates last month -- one in every 236 housing units in Pierce County was foreclosed, while in Thurston County, one in every 373 housing units. And the numbers for November are climbing.
Facing a foreclosure is daunting and demoralizing, but there is help.
"If you're down here walking with people, you know that a few blocks over there, there are people with a sub-prime problem," said John Jones while sitting near the corner of Ballard's 24th Avenue NW and 80th Street. "And a few blocks over there the same things happens. People are losing their homes."
Jones is president of Washington ACORN, a non-profit social justice organization. The national organization has helped thousands of families nationwide save their homes.
Jones says ACORN has helped save 300 homes in Washington since January and is in the process of helping at least another 300 now.
Jones said families who show up at their ACORN's Burien office feel as though saving their home is near impossible.
"We found at ACORN the impossible just takes a little longer," said Jones.
ACORN helped homeowner Felipe Gomez get out of a bad mortgage by negotiating with his lender. It was something Gomez found confusing and daunting.
Without ACORN's help, he's certain he'd be homeless.
"I was worried I'd lose my house," said Gomez.
He's owned his Seattle home for 8 years and when he refinanced in 2006, he didn't understand his interest rate could increase on his adjustable rate mortgage. It did and his monthly mortgage doubled.
"Much of the problem is ignorance on borrowers," said Gomez, who blames himself.
When he got hurt and lost his electrician business he couldn't afford his mortgage.
But ACORN stopped the foreclosure and is negotiating a modified loan with an affordable payment.
"It's kind of like when your are in the dark and you look to the light, or you're drowning in the river or sea and then you come up for air and you can finally breath," said Gomez.
Des Moines single father Tony Wilson says ACORN kept him and his kids in their house too. He's owned it for 15 years.
He too got stung by not understanding his mortgage and what he called 'hidden fees'.
"I'm feeling hopeful," said Wilson. "We're still negotiating, but I still have my house."
If you are facing foreclosure - ACORN wants to hear from you - you can call them at 206-723-5845 or visit their website at www.wa.acorn.org
According to Realty Trac, more than 31,000 housing units were foreclosed in October in our state.
Pierce and Thurston Counties had the highest foreclosure rates last month -- one in every 236 housing units in Pierce County was foreclosed, while in Thurston County, one in every 373 housing units. And the numbers for November are climbing.
Facing a foreclosure is daunting and demoralizing, but there is help.
"If you're down here walking with people, you know that a few blocks over there, there are people with a sub-prime problem," said John Jones while sitting near the corner of Ballard's 24th Avenue NW and 80th Street. "And a few blocks over there the same things happens. People are losing their homes."
Jones is president of Washington ACORN, a non-profit social justice organization. The national organization has helped thousands of families nationwide save their homes.
Jones says ACORN has helped save 300 homes in Washington since January and is in the process of helping at least another 300 now.
Jones said families who show up at their ACORN's Burien office feel as though saving their home is near impossible.
"We found at ACORN the impossible just takes a little longer," said Jones.
ACORN helped homeowner Felipe Gomez get out of a bad mortgage by negotiating with his lender. It was something Gomez found confusing and daunting.
Without ACORN's help, he's certain he'd be homeless.
"I was worried I'd lose my house," said Gomez.
He's owned his Seattle home for 8 years and when he refinanced in 2006, he didn't understand his interest rate could increase on his adjustable rate mortgage. It did and his monthly mortgage doubled.
"Much of the problem is ignorance on borrowers," said Gomez, who blames himself.
When he got hurt and lost his electrician business he couldn't afford his mortgage.
But ACORN stopped the foreclosure and is negotiating a modified loan with an affordable payment.
"It's kind of like when your are in the dark and you look to the light, or you're drowning in the river or sea and then you come up for air and you can finally breath," said Gomez.
Des Moines single father Tony Wilson says ACORN kept him and his kids in their house too. He's owned it for 15 years.
He too got stung by not understanding his mortgage and what he called 'hidden fees'.
"I'm feeling hopeful," said Wilson. "We're still negotiating, but I still have my house."
If you are facing foreclosure - ACORN wants to hear from you - you can call them at 206-723-5845 or visit their website at www.wa.acorn.org