ByElaine Severs, eHow Contributor
updated: January 16, 2011
Mesa, Arizona, Foreclosure Help
Foreclosures in Mesa
So many homes in Mesa went through foreclosure in the aftermath of the mortgage crisis that started in 2007 that President Obama chose the city as thebackdrop for a 2009 announcement of a federal housing rescue program. At the time, according to CNN, more than half of the homes forsale
in this suburbof Phoenix were distressed properties, and the number of foreclosure filings in the city --- at 1,079 --- were up 319 percent from just two years before. Theproblem wasn't caused by a high concentration of low-income homeowners: Homeowners in the region had average household earnings of $42,000, slightlyabove those in the rest of the state, according to the census figures. Rather, a burst housing bubble caused home prices to rapidly fall in the city, leaving morethan 60 percent of homeowners in the Phoenix suburban area --- which includes Mesa --- owing more on their mortgages than their homes were worth,according to CNN. These upside-down mortgages are some of the most vulnerable to foreclosure.
Homeowners in Mesa, along with those throughout the state, are eligible for free andlow-cost
assistance through the state's Department of Housing. Thestate offers free counseling through a toll-free helpline. In addition, homeowners who meet certain eligibility requirements, including property type, loan balanceand income level, were eligible in 2011 for up to $50,000 in government assistance to permanently reduce the principal on their loans through a program calledSave My Home AZ. Homeowners in Mesa can also find free help at the nonprofit Foreclosure Prevention Task Force, which offers counseling and resources nomatter where you live in the state.
There are three federal Housing and Urban Development-approvedforeclosure
counseling services with offices in Mesa, as of 2011: Housing ourCommunities, located on Main Street;Money Management
International, on Power Road; and Springboard-Mesa, onEast Baseline Road. These organizations provide in-person counseling on foreclosure prevention.
Homeowners who believe their lender submitted fraudulent information on their mortgage application or has unlawfully begun foreclosure proceedings againstthem might be able to pursuelegal
action with the help of an attorney through the Maricopa County Bar Association. The barassociation's legal referral service matches callers with attorneys who offer them 30 minutes of legal consultation for a $40 administration fee, as of 2011.
CNN: Mesa, Arizona: Poster Child for Foreclosure
US Census Bureau: QuickFacts: Mesa, Arizona
RealtyTrac: Foreclosure Activity Counts, AZ
Foreclosure Prevention Task Force
Arizona Department of Housing: Foreclosure Prevention Helpline
Arizona Department of Housing: Save My Home AZ
Maricopa County Bar Association: Lawyer Referral Service
Help Paying Bills: Arizona HUD-Approved Foreclosure Counseling Agencies
Home» Real Estate & Investment» Foreclosure» Help with a Foreclosure» Mesa, Arizona, Foreclosure Help