Coral Springs introduces foreclosure hotline
With the rate of foreclosures growing at 12 percent a month in Coral Springs, the city has adopted a series of measures to help residents preserve their homes.
Prominent among them is a foreclosure hotline. Residents facing a crisis can call 954-344-1055 to receive advice from city staff on how to go about receiving financial assistance or how to avoid foreclosure.
The city also is presenting a free seminar offering foreclosure solutions, in association with Broward Housing and Community Development Task Force, HUD and Freddie Mac. The seminar will be from 10 a.m. to 2 p.m. on Aug. 23 at the Center for the Arts, 2855 Coral Springs Drive.
The city has seen more than 1,800 foreclosures this year alone. Officials recently discussed a law to accelerate the code enforcement process for vacant and abandoned properties. The law also would establish minimum maintenance standards for properties owned by lenders.
The purpose of the ordinance is to prevent foreclosures from affecting property prices in the city. According to studies, every foreclosure affects property values in the neighborhood by 10 percent. Foreclosures also tends to increase crime.
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ARUN SIVASANKARAN
Comments
Even though we are told of instances of foreclosure in terms of statistics, to so many, it’s a story of a family member or friend that they know.
I’m not sure who to blame - the owner who could’ve taken different actions to avoid foreclosure or the banks and government who do such a poor job of keeping homeowners informed with all their small-print info.
It’s a spiral where everyone is chasing and blaming someone else. But one thing that we all can agree on in difficult times like this is that it’s a downward spiral that is collectively drowning us as a whole nation that once was prosperous and less wounded.
Posted by: Valances | August 2, 2008 12:24 AM