If you're not going through foreclosure experts say there's a 90% chance you know someone who is.
Saturday's Town Hall Meeting on Colorado Springs' south-east side gave some people hope.
The meeting was held at the Ruth Holley Library on Murray Blvd. near Platte Ave.
The panel of experts spoke with the group about options and gave them a pamphlet with a hotline number and a bunch of other numbers that could help them whether they're in foreclosure or on the verge of foreclosure.
"My gas bill is up, my electric bill is up, my water bill is up. The only thing that's not up is my income," said Bob Bighorn. Bighorn says he's current on his mortgage and bills, but fears his situation will get worse.
The panel of experts at Saturday's meeting says it's not too late and you don't have to lose your home.
"We're asking as Americans, help us. We're not asking for a hand-out, we're asking for honesty," said one woman who was in the audience.
In 2007, there was a 40% increase in foreclosures in El Paso County. In 2008, that number dipped to 20%, but people are continuing to lose the roofs over their heads. "In the last month, I had 300 filings in ten days," said Thomas Mowle who was appointed by the governor as El Paso County's Public Trustee. Colorado is the only state to offer such a service. "Don't be in denial about it, it's not going to get better by itself," said Mowle. In foreclosure or not Mowle says he can help straighten things out between you and your bank.
Mike Rosser who is with the Colorado Foreclosure Prevention Hotline says he can help too. "There's nothing to be embarrassed about, it's happening," said Rosser.
Here's what the hotline can do. "It puts a trained housing counselor between that borrower and that bank in terms of trying to do a work-out agreement," said Kathi Williams who is with the Colorado Division of Housing.
C.F.P.H. says they can help 4 out of every 5 people who come to see them.
And here's a warning. C.F.P.H. says anyone asking for money in exchange for help is almost always a scam.
Also keep in mind that when a home goes into foreclosure, the surrounding homes in the neighborhood are affected. The value in those surrounding homes could drop by as much as 10%, that's according to the Division of Housing.
The Colorado Foreclosure Hot-line number is, 1-877-601-HOPE.
The Pikes Peak Foreclosure Prevention Hot-line number is, 719-444-8833
The El Paso County Public Trustee number is, 719-520-6780.
The Care & Share number, 719-528-6767.
The Consumer Credit Counseling Service number is, 719-576-0909.
The HUD/FHA number is, 303-672-5216.
The Pikes Peak Work Force Center number is, 719-667-3700
The Pikes Peak Association of Realtors number is, 719-633-7718.
The Colorado Legal Services number is, 719-471-0380.
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