LANSING, MI – Ingham County Treasurer Eric Schertzing recently presented the Sheriff Deed numbers for 2007 to the organizational meeting of the Ingham County Board of Commissioners. Sheriff Deeds represent the sale of mortgage paper and are believed to be the best indicator of mortgage foreclosure activity. Over 95% of sheriff deeds resulted in a foreclosure in 2007.
The issue of mortgage foreclosure and its economic impact is hitting the nation, and Mid-Michigan is not immune to this quandary. In fact, mortgage foreclosures in Ingham County almost tripled in 2007 over 2004. Foreclosures effect more than just the owners of foreclosed properties; they can negatively impact every homeowner in the community, due to reduced property values and an eroding tax base.
In an effort to efficiently combat this problem, The City of Lansing together with Ingham, Clinton and Eaton Counties have developed a partnership focused on stopping foreclosure before it starts. This historic partnership is trying to prevent foreclosure as much as possible and diminish the fall out on the economy. Their initiative, which is supported by the Web site holdontoyourhome.org and the 211 call system provide counseling services and educational resources free to homeowners who need financial help.
The service provides confidential, local counseling services free to anyone in need of help. By dialing 211, homeowners will be put in contact with a MSHDA and HUD-certified counselor who will first try and help prevent the foreclosure. If this is not possible, the counselor will help minimize the damage, creating a personalized response to engage a family with a plan that best fits their circumstances.
“Face-to-face counseling, by trained local counselors is the most effective solution,” said Ingham County Treasurer Eric Schertzing. “We are blessed with nonprofit counseling agencies that can help. It made sense for the city and counties to partner to increase counseling capacity and improve public awareness of this wonderful service.”
“Mid-Michigan is a leader in providing tools to help families negatively impacted by mortgage foreclosure and the many other issues that go along with this tragedy, “ Schertzing said. Calling 211 or logging onto www.holdontoyourhome.org is a path to the best outcome for a difficult situation.”
