foreclosures in arizona

20
Evelia Martinez Special Projects Manager Don’t Borrow Trouble ® Pima County APRIL 8, 2011

Upload: zavad

Post on 20-Feb-2016

33 views

Category:

Documents


0 download

DESCRIPTION

FORECLOSURES IN ARIZONA. Evelia Martinez Special Projects Manager Don’t Borrow Trouble ® Pima County APRIL 8, 2011. FORECLOSURE FILINGS IN ARIZONA. 1 in every 173 homes received a foreclosure filing notice 66,000 homeowners have lost their home to the servicer - PowerPoint PPT Presentation

TRANSCRIPT

Page 1: FORECLOSURES IN ARIZONA

Evelia MartinezSpecial Projects Manager

Don’t Borrow Trouble ® Pima CountyAPRIL 8, 2011

Page 2: FORECLOSURES IN ARIZONA

1 in every 173 homes received a foreclosure filing notice

66,000 homeowners have lost their home to the servicer

1 in 88 homes in the worst hit areas received a foreclosure filing notice

Page 3: FORECLOSURES IN ARIZONA

1 in every 146 homes received a foreclosure filing

1 in 12 reddest areas received a foreclosure notice

Page 4: FORECLOSURES IN ARIZONA
Page 5: FORECLOSURES IN ARIZONA

Foreclosure Filings 1 in every 85

homes received a foreclosure filing

1 in 13 homes in worst areas received a foreclosure filing

Page 6: FORECLOSURES IN ARIZONA
Page 7: FORECLOSURES IN ARIZONA

1 in every 246 homes received a foreclosure filing

1 in 41 homes in the worst areas received a foreclosure filing

Page 8: FORECLOSURES IN ARIZONA
Page 9: FORECLOSURES IN ARIZONA

DAYS

30 Days

60 Days

90+ Days Refer to Foreclosure

Current on Due Date

Collections Loss Mitigation –

Home Preservation – Work Out Plans

Page 10: FORECLOSURES IN ARIZONA

Concern that Upcoming Resets will Continue to Drive New Foreclosures

Monthly Mortgage Rate Resets (first reset in billions of US dollars)

Source: Credit Suisse: Assessing Risks to Global Financial Stability, p. 8. http://www.imf.org/external/pubs/ft/gfsr/2007/02/pdf/chap1.pdf Info from FRB Report: Arizona Foreclosure Trends

Page 11: FORECLOSURES IN ARIZONA
Page 12: FORECLOSURES IN ARIZONA
Page 13: FORECLOSURES IN ARIZONA
Page 14: FORECLOSURES IN ARIZONA

◦ Important to reach borrowers with ‘preventable’ foreclosures◦ Borrower Outreach Events◦ Expand use of foreclosure prevention workbook

http://www.pima.gov/current/2008_November%20English%20Workbook.pdf

◦ Making Homes Affordable◦ Federal program provides both loan modification and

refinance options Online form available that allows borrowers to assess if

they qualify for the program http://makinghomeaffordable.gov/eligibility.html

Page 15: FORECLOSURES IN ARIZONA

Tool created by the Pima County Foreclosure Prevention Coalition.

Designed to inform, educate and/or help deal with a potential foreclosure.

Download available at www.dbtaz.org

Page 16: FORECLOSURES IN ARIZONA

Professionals dedicated to foreclosure prevention familiar with lenders/servicers

Will help assess financial situation and develop a work plan

Assist with completion of a Request for Modification Affidavit (RMA)

Will serve as advocate with lender/servicer Discuss options available to you

FREE OF CHARGE/GRATIS!

Page 17: FORECLOSURES IN ARIZONA
Page 18: FORECLOSURES IN ARIZONA
Page 19: FORECLOSURES IN ARIZONA
Page 20: FORECLOSURES IN ARIZONA

EVELIA MARTINEZSpecial Projects Manager

DON’T BORROW TROUBLE ® PIMA COUNTY

A Program of the Southwest Fair Housing Council

(520) 792-3087