Posted: 10:08 a.m. Monday, March 30, 2015

Butler County foreclosure rate sinks to more than decade-long low

By  http://www.journal-news.com/staff/chelsey-levingston/" rel="nofollow -     Tax and mortgage foreclosures in Butler County sank to a more than 10-year low last year, but there will always be a foreclosure rate, said Bill Staler, chief executive officer of nonprofit LifeSpan Inc., which offers financial counseling services.

    Those who are still falling behind on mortgage payments include those whose lenders have been behind on taking foreclosure action, the underemployed and people who don’t manage money properly, Staler said.

    “Even though there are more jobs and the employment numbers are definitely going in the right direction, we’re still seeing people who are underemployed,” Staler said. “They’ve gone from $20 an hour with great benefits to $10 an hour with not as good benefits. If anything happens, they’re in trouble.”

    Last year, 1,482 homes were foreclosed across the county, according to the Butler County Clerk of Courts Office. That’s down 53 percent from the 3,165 homes foreclosed in 2010 following the Great Recession. In 2004, there were 1,953 foreclosures.

    “We are seeing the mortgage lenders much more willing to work with people and much more willing to modify their mortgage, or do some kind of change in their mortgage if people get delinquent than we ever have,” Staler said.

Read more about the local housing recovery  http://www.journal-news.com/news/news/heres-where-the-local-housing-recovery-stands/nkgDx/" rel="nofollow -