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Data collected by the Mortgage Bankers Association for 2008’s 1st quarter showed that out of the all loans that were outstanding in Indiana Bank Foreclosures, 3.72 of the loans were in some stage of foreclosure and 7.05 of the total loans were in some stage of delinquency. When it comes to foreclosures across the country, these figures put Indiana in fourth place, which does provide a grim picture for Indiana Bank Foreclosures.
Indiana Bank Foreclosures, for quite some time, have ranked among the top states in foreclosures across the country. Amidst this, a network to prevent foreclosures has formed an alliance with the Ivy Tech Community College in order to carry out workshops on Saturdays at no costs to assist people struggling with foreclosures in Indiana and around.
The founder of the Indiana Foreclosure Prevention Network, Lt. Gov. Becky Skillman said that they hope to provide better assistance to the Hoosiers in maintaining their ownership of homes with tools that can assist steer clear of foreclosure. The network has under its wings agencies dealing with housing, community associations apart from more than forty banks.
These workshops would give people with mortgages an opportunity to meet their own lenders and counselors from the housing sector. The workshops are to be held in South Bend, Evansville and Indianapolis. People who intend to attend are recommended to take along all relevant documents pertaining to their income and mortgages.
Tom Snyder, Ivy Tech Community College’s President, said that with this, they plan to make the Hoosiers more aware of their options when it came to their mortgages being paid off. He added that the Hoosiers could use this opportunity to gather more knowledge of the market.
The alliance also intends to hold more workshops on topics like debt management and how fraud on mortgages should be dealt with, besides others.
For on-line information and details of the workshop, the website is http://www.877gethope.org. Also, a help line was launched by the state to help with Indiana Bank Foreclosures to offer free counseling. The help line number is 1877-GET-HOPE.
