On July 15, 2008, KETC's Ruth Ezell hosted Facing the Mortgage Crisis, a one-hour live, call-in show that discussed mortgage and foreclosure issues faced by St. Louis area homeowners. The panel of mortgage experts included: Malik Ahmed, Better Family Life; Dan Claggett, Legal Services of Eastern Missouri; Linda Ingram, Beyond Housing; Eric Madkins, Urban League.
Questions Addressed Include:
If you can no longer pay your adjustable rate mortgage, is it possible to call your lender and change your payments?
What is the ripple effect on our community?
Is this a bad time to be taking out an equity line of credit?
How many people have been getting in trouble with "easy credit" scams?
How can real estate taxes affect the ownership of a home?
How is the mortgage crisis different in urban, rural and suburban areas of the region?
Is a reverse mortgage a good idea for senior citizens?
Are there any ways to adjust terms of a loan for a person that is employed at a new job that pays considerably less than their previous one?
What is the Missouri process for foreclosures?
What are some of the common mistakes homeowners make once they get into trouble?
What can homeowners expect from a visit to a housing counselor, and what questions might they need to answer?
What are some of the programs that the Urban League and Eastern Services of Missouri offer?
What are some of the different types of scams that have been noted?
If you or someone you know are facing a financial or mortgage crisis, here are some tips or advice you may find helpful. If you have more questions, you can call the United Way's helpline at 1-800-427-4626 or 2-1-1 for information about trusted community resources in the Greater St. Louis area you can turn to.
The St. Louis region is among the areas being hard hit by the mortgage crisis with more foreclosures than the national average. Individuals, families, neighborhoods and businesses throughout our community will feel the devastating effects. But many people can be helped if they know where to turn for trusted information.
KETC/Channel 9 has been joined by the United Way and numerous nonprofit organizations throughout our region to connect people with trusted information and free services. Many foreclosures can be prevented by taking the right steps at the right time.
The St. Louis region is among the areas being hard hit by the mortgage crisis with more foreclosures than the national average. Individuals, families, neighborhoods and businesses throughout our community will feel the devastating effects. But man...