Louisville Part Of Nationwide Foreclosure Increase

by Gabe Bullard on April 15, 2010

by Gabe Bullard

Louisville has not been insulated from the recent spike in foreclosures.

With unemployment hovering around 12%, homeowners with all types of mortgages, from subprime to standard, are defaulting.

Metropolitan Housing Coalition director Cathy Hinko says she would like to see banks do more to reach out to customers before initiating foreclosure.

“There does have to be a commitment by lending institutions to make their systems responsive so they can do the things they really want to, which is work things out with people,” she says.

According to RealtyTrac.com, one out of every 452 homes in Louisville is in a stage of forecslosure. Nationwide, foreclosure activity increased seven percent between January and March of this year.

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{ 1 comment }

Jen L. April 16, 2010 at 11:03 am

as a former collection and real estate paralegal, and also coincidentally a victim of fraudulent appraisal by our mortgage company Citibank, i strongly urge all people who receive a Civil Summons to file an answer yourself immediately with the Court.

Ask for:
1. the original note (not a copy) to be viewed by the court
2. the home inspection report
3. the home appraisal report
Write also that, in light of industry wide rampant fraud, you dispute the loan until they prove they followed the law.

They are not allowed to collect if they broke the law, and also they are required to show the original note if you ask for it. If they try to bring an attested copy, you can still press for the original note.

Please file a Pro-Se Answer (pro-se means without an attorney) ASAP. You do have the power, and who knows you just might win ~

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