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State Helps Its Residents Avoid Washington Foreclosures

California-based firm, RealtyTrac, reported that Washington foreclosures recorded 31,000 units in October alone. Based on the data, one in every 236 home in Pierce County was considered as a foreclosure property. Thurston County, on the other hand, recorded that one in every 373 housing unit has received a foreclosure notice.

Washington ACORN President John Jones said that the crisis in foreclosure is deeply felt in the state. He added that the increasing number of Washington foreclosures is not a surprising data. Jones, sitting on the corner of Ballard’s 24th Avenue NW and 80th Street, pointed out that people near his present location are facing foreclosures.

Washington ACORN is a non-profit social justice organization that aims to help people save their homes from foreclosures. According to Jones, the organization has already assisted in saving 300 homes in Washington since January of this year.

Jones noted that people who come to their office are usually hopeless. He said that borrowers sometimes think that it is impossible to keep their homes. ACORN, on the other hand, believes that the impossible just requires longer time to do.

Felipe Gomez, one of the homeowners that ACORN helped, agreed with the belief of the organization. He recalled that he was in a bad mortgage and ACORN helped him get through with the confusing negotiation process with his lender.

Gomez said that he refinanced his 8-year old Seattle home without knowing that interest rates in adjustable rate mortgages increases over time. The payment for his mortgage would not have been a problem had he not lost his electrician business.

Although Gomez blames himself for the lapse in judgment, he is thankful that ACORN stepped up and negotiated a more affordable payment term for him. He said that the ignorance of borrowers like him on mortgage fine prints can really cost them to lose their homes due to foreclosures.

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