Initiative Launches a Portal for Detroit Foreclosure Assistance

Written by Lani Shadduck
HULIQ.com

A new website designed to help users in Detroit to deal with foreclosures has launched today. The site, called FightMortgageForeclosure.com, connects underwater homeowners and those facing foreclosure with services to help them get on track and prevent foreclosure.

Michigan has been hit hard by the real estate market meltdown. Detroit is home to some of the world’s largest automakers and their downfall has meant that many Detroit residents are out of a job. This downward spiral has not only affected the local economy but also put many homeowners at risk of foreclosure.

The Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative launched the website today. This was a result of a collaborative created by United Way for Southeastern Michigan who wanted to find a way to stem foreclosures in the area and help those in need.

The web portal was put together with technology from Wayne County which has faced a severe foreclosure epidemic. As many as 75,000 homes in Wayne County faced foreclosure in 2009 alone.

FightMortgageForeclosure.com offers education, counseling and intervention services. The site lets homeowners submit a foreclosure case online that includes household and income information. Once submitted, users will receive aid and information about what choices they have to prevent foreclosure.

Michigan as a whole currently has 1.38 million mortgage loans. More than 12 percent of those were 30 days or more past due. 4.56 percent were in actual foreclosure. Michigan ranks fourth in mortgage delinquencies. According to the Mortgage Bankers Association, however, delinquencies across the nation have actually dropped.