Foreclosure Help on the Way?

On Thursday, January 3^rd, I met with Kimberly Bunton who is the Director of Housing and Family Services for Louisville Metro.  The purpose of the meeting was to see how the Greater Louisville Association of Realtors (GLAR) might assist and/or team up with city government to help those families that are or may be affected by the effects of foreclosure in the Louisville area.  Ms. Bunton indicated that Mayor Abramson is aware and concerned that while Louisville has been somewhat insulated from the foreclosure epidemic, as compared to many other large cites, the fact remains that foreclosures are up 100% in the past year with over 3,000 homes being sold through the Jefferson County Circuit Court Commissioners Office.  Currently the city has a pilot program that offers those in need up to $5,000.00 in assistance to either help catch them up on their mortgage or help with the costs associated with refinancing their home, however, many times this option will not be possible.  This current program is sort of a pilot program and has not really been “advertised”, according to Ms. Bunton.  A working meeting is scheduled for January 8^th to put together a more comprehensive game-plan for implementation and expansion of the program.  I will attend along with Nelson Collins, President of GLAR. I’ll let you know how it goes. Take care, Lamont