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Foreclosure Prevention Effort Offers Mixed Results

2,077 People Followed Through With Indiana Foreclosure Prevention Network Last Year

POSTED: 6:48 pm EDT September 1, 2010

The Indiana Foreclosure Prevention Network has fought to keep thousands of people in their homes, but with mixed results.

Since 2007, the group has held forums statewide for homeowners in need of counseling and help navigating a complicated process, 6News' Rafael Sanchez reported.

Of 2,077 people who completed the process last year, 27 lost their homes, while 353 either were able to get a repayment plan or make a deal with the bank to walk away.

The other 1,700 either decided to take matters into their own hands or did nothing.

Officials with the organization said they believe phone banks, education campaigns and changes in state law requiring more disclosure from lenders and court settlement conferences is behind a drop in foreclosure in Indiana in the third quarter of last year.

"We encourage our homeowners to work with their lenders and see what your options are. Don't throw your hands up and walk away," said Cheryl Shelton,

Shelton, a housing counseling director with Community Action who lost her home to foreclosure, now helps people get the information they need to save their house.

"The No. 1 mistake is not following through," she said.

The Indiana Foreclosure Prevention Network initially received $400,000 in tax dollars in 2007.
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