Homeowners Can Seek Help When Faced with Foreclosure

Tribune - Review / Pittsburgh Tribune - Review › June 22, 2008

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Summary

Count Heather Hoye of Homestead among the lucky ones when it comes to the national mortgage foreclosure crisis.

Thanks to help from Pennsylvania's new Refinance to an Affordable Loan program, Hoye and her 7-year-old son, Andre, remain in the home she could have lost when she found herself facing hundreds of dollars more in monthly payments when her adjustable rate mortgage reset at a higher interest rate.

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Extract

Homeowners Can Seek Help When Faced with Foreclosure

Hoye is one of an estimated 25,000 homeowners in Pennsylvania who could face foreclosure -- potentially 5,000 in Allegheny County -- when their mortgage payments increase this year, according to some estimates. And while programs like the state's REAL initiative are helping some, experts say the number of people b...

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