Foreclosure Rates Not Up In Ark-La-Tex

Across the country there are reports foreclosure rates are up, but experts say that is not what they are seeing here in the Ark-La-Tex.

Brokers we spoke to say forclosures have remained pretty consistent over the past few months.
They say lenders could be getting into trouble with a lot of the adjustable mortgages that were hot a few years ago.

Tahira Abdul-Rahman, a broker who owns Tahira & Associates says, "I can understand that with the difference in the financing for some individuals that some buyers will be having difficulty in terms of maintaining there mortgages."

Chris Simmons with Barksdale Federal Credit Union says, "Sometimes we can actually refinance them before they actually go delinquent and get them possibly into a longer term or a different kind of payment where there payment would go down."

Experts say the key is seeking help as soon as you realize you are having financial difficulties and can't pay the mortgage rather than waiting until you are behind a few months.

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