In Philadelphia, protestors, mostly homeowners facing foreclosure, are gathering to ask a judge to slow seizures by the sheriff which are set to begin April 5th. There are over 2000 homes in Philadelphia alone in danger of foreclosure. HUD has an emergency fund that is intended to help these people stay in their homes but the funding is delayed. Judge Prior Dembe organized a moratorium to examine the crisis in Philadelphia and has delayed sheriff sales for months but these homeowners are running out of time.
Philadelphia isn’t the only city waiting for emergency HUD funds, there is about 1 billion dollars available for bridge loans; 106 million is intended for Philadelphia. People who are in danger of losing their homes who don’t qualify for HUD funds should hire a local foreclosure lawyer to assist them in these troubled times. Residents in California, Arizona, Florida and Michigan, to name a few are in the midst of a housing crisis. Because the unemployment remains high, homeowners are having difficulties holding on to their residences but a foreclosure attorney can advise these individuals on how to avoid the inevitable.
Navigating the foreclosure process is daunting for a person who is struggling financially. Focusing on the many problem associated with economic troubles is difficult when weighed down with some many problems. Hiring an experienced foreclosure lawyer will take some burden of the economically downtrodden homeowners so they can concentrate on getting their lives and finances back together.
