The HOPE NOW Alliance, working with the federal government's Making Home Affordable Program, are in Phoenix again hosting a free "Homeownership Preservation" event. It starts today and runs through tomorrow Friday March 12th.
A similar event was held at South Mountain High School last summer.Homeowners facing foreclosure can receive free housing counseling at the events.
 
The current workshop is being held at the Glendale Civic Center and starts at 1 p.m today and runs until 7:30 p.m. Tomorrow, the doors are open from 10 a.m. to 6 p.m.
The Civic Center is located at 5750 W. Glenn Drive in Glendale. 
If you attend the workshop, ...

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Source: http://s.azcentral.com/home/Blog/CatherineReagor/75920

Of the $1.5 billion allotted by the federal government to help states hardest hit by housing bubbles that burst, Arizona will receive $125 million.
Arizona is one of five states to receive the money, all states where home prices have dropped more than 20 percent. The money was divided among the states based on drops in home values, unemployment rates and foreclosure figures. The four other states and the funds they will receive: California, $670 million; Florida, $418 million; Michigan $155 million; and Nevada, $103 million.
This money will supplement the $75 billion Home Affordable Modification Program, announced by Obama ...

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Source: http://s.azcentral.com/home/Blog/CatherineReagor/75507

The Arizona Housing Department is waiting to hear how much of the $1.5 billion in additional foreclosure aid, announced by President Barack Obama in Las Vegas a few weeks ago, the state will receive.
The U.S. Treasury Department is supposed to announce this Friday (tomorrow) what share of the money each of the five states, including Arizona, hardest hit by foreclosures will get.
The Treasury Dept. is also expected to give the five states guidelines on how the money can be spent to help homeowners facing foreclosure. One way the Arizona Housing Dept. would like to spend the money is to continue to ...

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Source: http://s.azcentral.com/home/Blog/CatherineReagor/75429

Pre-foreclosures in the metropolitan Phoenix climbed in February, dashing hopes that the housing market is starting to recover from the crash.
In January, pre-foreclosures, known as notice of trustee sales, fell to their lowest level since late 2008. The significant drop had some housing market watchers hopeful more lenders were working with borrowers on loan modifications early on and more borrowers could afford their monthly mortgage payments.
But in February, there were 7,604 pre-foreclosure notices filed by lenders in metropolitan Phoenix, up from the 6,762 in January, reports the Information Market.
Foreclosures did fall last month to 4,271, from 4,452 in January. But ...

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Source: http://s.azcentral.com/home/Blog/CatherineReagor/75310

The federal government has added a year to the Home Affordable Refinance Program, known as HARP.
 Part of the $75 billion housing aid package, HARP allows homeowners who are underwater, meaning they owe more than their house is worth due to falling home values, to refinance to a lower interest rate.
 Now, homeowners who owe up to 125 percent of what their home is worth have until June 2011 to try to refinance under the plan.
About 190,000 homeowners have been able to use the program to refinance so far.
The original limit was 105 percent, which helped very few Arizona homeowners. ...

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Source: http://s.azcentral.com/home/Blog/CatherineReagor/75215