As States Receive Foreclosure Prevention Funding, Need for Counselors Soars

25 April 2008

Author: admin Posted under Foreclosure Filings

With the foreclosure rate extraordinarily high around the country, foreclosure counselors are in high demand all over to staff the many prevention centers and hotlines being established in many states. This growing demand for foreclosure counselors highlights the growing attitude that many homeowners in danger of foreclosure are taking, and that’s to deal with their situation. This could be a sign efforts to raise awareness about options in the face of foreclosure are working.

States like Minnesota, which just received a $4 million federal grant to aid its problem with foreclosures, can’t get counselors fast enough. More are being hired, and more are being sought about by those in local communities.

This also points to the fact that pre foreclosures could start becoming the premier way for investors to buy foreclosure homes. As more and more homeowners become aware that they can sell to avoid a foreclosure, more and more are choosing to do so. For buyers, buying direct from a homeowner can avoid some of the hassles of a public sale, and can be extremely profitable.

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