Homeowners who are in danger of losing their properties to the bank are invited to attend a Northeast L.A. Home Rescue Fair on Saturday in Lincoln Heights. Loan specialists, federal housing counselors and attorneys will be available to meet with property owners and go over records ranging from income tax forms to household budgets to letters explaining why homeowners fell behind on their mortgage. Homeowners need to register in advance for the fair, which is being co-sponsored Assemblyman Gill Cedillo. But how many people will show up? It’s not clear but Christopher Furstenberg of Furstenberg Realty researched the statistics on Foreclosure Radar to get an idea of how many people may need help or are beyond assistance. Below are the results, broken down by Zip Code, from Jan. 1 through Sept. 11.
|Eastside Foreclosure Figures for Jan. 1 – Sept. 11|
|Neighborhood||Zip Code||Notices of Default||Notices of Trust Deed Sale||Bank Owned|
|Highland Park & Hermon||90042||219||115||56|
|East Los Angeles||90022||192||92||33|
|Cypress Park, Glassell Park
& Mt. Washington
|East L.A./City Terrace||90063||177||86||40|
|Echo Park/Silver Lake||90026||120||69||25|
|Lincoln Heights/Montecito Heights||90031||93||49
|Source: Foreclosure Radar/Christopher Furstenberg|
The Notices of Default column reflect the number of property owners who entered the first stage of the foreclosure process. Some of these property owners who received a default notice, issued by a trustee, may have eventually worked out their issues to avoid foreclosure, some may have not. The figures under Notices of Trust Deed Sale includes the homeowners who failed to become current on their loans and have been notified of the date their property will be sold in a foreclosure auction. Finally, the Bank Owned figure shows how many properties were eventually taken over by the bank.
It looks like more homeowners will need to be rescued in the months ahead. The L.A. Times reports that new foreclosure proceedings in California jumped 55% in August from July.
Those who want to register for Saturday’s home rescue fair need to call (323) 722-3955.