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North Charleston, SC -
The most recent numbers for South Carolina show more than 2,400 properties are in foreclosure. That number is climbing, but help is now coming from foreclosure clinics and President Barack Obama.
Danny Long never thought he could lose his home.
“I’m living within my means and living within my standards of the money I make each month,” Long explains. He is retired and living on a fixed income. His home is not yet in foreclosure, but he says it is headed there. He and hundreds more came to a foreclosure clinic Saturday at First Federal in North Charleston.
“A lot of people are in trouble,” Debbie Kidd, Director of the HomeOwnershipResourceCenter says.
The rescue could com from the federal government.
“The Obama plan that came out a few days ago gives new hope to those folks who have been making their payments on time, but have been struggling to do so,” Kidd added.
The President’s plan brings homeowner’s mortgage payments down to 31% of their gross income. The clinic tries to stop the problem before it starts and some homeowners can substantially reduce their mortgage before they start missing payments.
That strategy, along with counseling and attorney’s negotiating with lenders could be Long’s lifeline.
“It is going to help me close to 100 percent,” Long says.
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