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Arizona Foreclosure Statistics and Prevention Resources

Understand the alarming foreclosure statistics in Arizona, learn about foreclosure prevention resources, and find help from dedicated professionals to avoid losing your home. Contact Evelia Martinez, Special Projects Manager at Pima County.

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Arizona Foreclosure Statistics and Prevention Resources

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  1. FORECLOSURES IN ARIZONA Evelia Martinez Special Projects Manager Don’t Borrow Trouble ® Pima County APRIL 8, 2011

  2. FORECLOSURE FILINGS IN ARIZONA • 1 in every 173 homes received a foreclosure filing notice • 66,000 homeowners have lost their home to the servicer • 1 in 88 homes in the worst hit areas received a foreclosure filing notice

  3. FORECLOSURE FILINGS IN MARICOPA COUNTY • 1 in every 146 homes received a foreclosure filing • 1 in 12 reddest areas received a foreclosure notice

  4. STATISTICAL COMPARISONSMARICOPA COUNTY

  5. PINAL COUNTY FEBRUARY 2011 • Foreclosure Filings • 1 in every 85 homes received a foreclosure filing • 1 in 13 homes in worst areas received a foreclosure filing

  6. STATISTICAL COMPARISONPINAL COUNTY

  7. PIMA COUNTY FORECLOSURE FILINGS • 1 in every 246 homes received a foreclosure filing • 1 in 41 homes in the worst areas received a foreclosure filing

  8. STATISTICAL COMPARISONPIMA COUNTY

  9. The Foreclosure Timeline in Arizona can be Completed in 180 DaysARIZONA DELINQUENCY CYCLE DAYS 60 Days Current on Due Date 30 Days 90+ Days Refer to Foreclosure Collections Loss Mitigation – Home Preservation – Work Out Plans

  10. Concern that Upcoming Resets will Continue to Drive New Foreclosures Monthly Mortgage Rate Resets (first reset in billions of US dollars) Source: Credit Suisse: Assessing Risks to Global Financial Stability, p. 8. http://www.imf.org/external/pubs/ft/gfsr/2007/02/pdf/chap1.pdf Info from FRB Report: Arizona Foreclosure Trends

  11. AREAS IN PHOENIX AT RISK OF ADDITIONAL FORECLOSURES February 2010

  12. AREAS AFFECTED BY CONCENTRATED FORECLOSURESFebruary 2010

  13. AREAS IN TUCSON AT RISK FOR ADDITIONAL FORECLOSURESFebruary 2010

  14. CONTINUED NEED FOR FORECLOSURE PREVENTION • Important to reach borrowers with ‘preventable’ foreclosures • Borrower Outreach Events • Expand use of foreclosure prevention workbook http://www.pima.gov/current/2008_November%20English%20Workbook.pdf • Making Homes Affordable • Federal program provides both loan modification and refinance options • Online form available that allows borrowers to assess if they qualify for the program http://makinghomeaffordable.gov/eligibility.html

  15. PIMA COUNTY FORECLOSURE PREVENTION WORKBOOK • Tool created by the Pima County Foreclosure Prevention Coalition. • Designed to inform, educate and/or help deal with a potential foreclosure. • Download available at www.dbtaz.org

  16. HUD APPROVED, NON-PROFIT HOUSING COUNSELING AGENCY • Professionals dedicated to foreclosure prevention familiar with lenders/servicers • Will help assess financial situation and develop a work plan • Assist with completion of a Request for Modification Affidavit (RMA) • Will serve as advocate with lender/servicer • Discuss options available to you • FREE OF CHARGE/GRATIS!

  17. CONTACT INFORMATION • EVELIA MARTINEZ • Special Projects Manager • DON’T BORROW TROUBLE ® PIMA COUNTY • A Program of the Southwest Fair Housing Council • (520) 792-3087

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