* A national anti-predatory lending law to keep unscrupulous lenders from jumping from state to state
* A bankruptcy law that lets homeowners shed excessive mortgage debt and keep homes
* A "home rescue fund" to help homeowners who are only a few months behind in payments
In April, mortgage companies filed 1,716 foreclosures against homeowners, more than double the number filed in April a year earlier, according to the Association of Community Organizations for Reform Now, or ACORN. The group analyzed data from the Web site RealtyTrac Inc., which tracks foreclosures.
Countywide, banks and mortgage companies own more than 9,000 residential properties. So many homes are in foreclosure that the national media regularly refer to Northeast Ohio as the epicenter of the growing national problem.
Read more: www.cleveland.com/news/plai.../index.ssf
* A bankruptcy law that lets homeowners shed excessive mortgage debt and keep homes
* A "home rescue fund" to help homeowners who are only a few months behind in payments
In April, mortgage companies filed 1,716 foreclosures against homeowners, more than double the number filed in April a year earlier, according to the Association of Community Organizations for Reform Now, or ACORN. The group analyzed data from the Web site RealtyTrac Inc., which tracks foreclosures.
Countywide, banks and mortgage companies own more than 9,000 residential properties. So many homes are in foreclosure that the national media regularly refer to Northeast Ohio as the epicenter of the growing national problem.
Read more: www.cleveland.com/news/plai.../index.ssf
