Articles About foreclosure
Losing one’s home to foreclosure is most often traumatic. Foreclosures hurt communities, too. Though Yellow Springs has weathered the housing crisis well with only a small dip in home sale prices, foreclosure rates are relatively high here and may be on the uptick.
For at least one Yellow Springs homeowner, the past year has been unforgettable. In the fall of 2008, his mortgage company granted him a three-month forbearance on the monthly payments for his home in the village. Having no steady income due to an ongoing health issue, the homeowner received a second forbearance in early 2009, and then was told in the spring that unless he could begin making his monthly $1,000 mortgage payments, the lender would begin foreclosure proceedings on his house.