Mortgage Default and Foreclosure Prevention Event

California takes second place in the country (behind Nevada) for number of foreclosures state wide with 9.1 foreclosure filings for every 1,000 homes. In Rancho Cordova, it seems that people are holding foreclosure at bay as the foreclosure rate in our neck of the woods has been hovering below the state average (of, but other Sacramento areas aren’t doing so well. Specific neighborhoods, including Meadowview, in the Southern Sacramento area, Natomas and Foothill Farms, to the North, have seen substantially higher rates of foreclosures than the Sacramento area average, which is one out of every 380 homes.

Experts are predicting that 1 of 10 homeowners through out the state is either delinquent or is in foreclosure. These same experts are also predicting that we won’t see a change in the numbers until late 2009 or early 2010.

If you are one of these homeowners that is struggling to pay their mortgage right now, an upcoming event might help ease the burden. On Monday, February 2 at the Jose Rizal Community Center (7320 Florin Mall Road, Sacramento) from 2:00 to 8:00 pm, homeowners are encouraged to bring their loan documents and other financial information in order to meet with a loan modification specialist one-on-one.

If the homeowner is eligible, the goal of the event is to begin the loan modification process. If the homeowner is not eligible, the lenders may be able to delay the foreclosure process. In either case, the lenders will equip you with the tools and information to make an informed decision regarding foreclosure and your home.

For more information, please call (916) 440-1399, ext. 1226 or click here. Parking for the event is free.