The latest figures show almost one in six Roanoke area home sales this winter involved a property in the foreclosure process. This comes as some consumer advocates warn troubled homeowners about mortgage abuses. More from News/Talk 960’s Evan Jones.
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In January through March, almost 16% of Roanoke area homes sold were in some stage of foreclosure. That is down from 18% in the previous three months. The numbers come from RealtyTrac, which follows home sales nationwide.
Homeowner advocates say even if the numbers keep falling, some lenders are still abusing homeowners facing foreclosure. Their advice to anyone contacting lenders: keep thorough records and cntact a HUD-approved housing counselor.
Paula Sherman with Housing Opportunities Made Equal of Virginia says if you believe you are dealing with a wrongful foreclosure, you should also contact Attorney General Ken Cuccinelli’s office. Cuccinelli spokesman Brian Gottstein says the office is looking into mortgage industry practice in Virginia.
Click here for foreclosure information from Virginia Attorney General Ken Cuccinelli
Click here for foreclosure information from the Center for Responsible Lending