Friday, June 19, 2009
Delaware officials said Wednesday the state could see a higher number of foreclosures in 2009 than in 2008. Gov. Jack Markell also announced a plan that he said will help people keep their homes.
State officials said that last year there were 4,500 foreclosures in Delaware. However, 6,000 foreclosures could be recorded in Delaware this year. according to state officials.
Under new plans announced Wednesday, the state will begin working with lenders and borrowers before homeowners enter the foreclosure process. State officials said they will help homeowners find emergency financing and help families recover if foreclosure cannot be avoided.
Bonnie Mowbray nearly lost her home to foreclosure, but received help from the Delaware State Housing Authority. Through the agency, Mowbray was able to secure funding to save her home.
"It's a real blessing. Without them I would have been homeless," she said.
Markell is urging anyone who has fallen behind on their mortgage payments to reach out for help.
The state has set up a hotline for residents facing foreclosure. That number is 1-800-220-5424.
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