Phoenix foreclosures down; AZ's federal foreclosure plan awaiting approval
T he number of Phoenix-area homeowners losing houses to foreclosure
fell 20 percent in April, a drop that could signal more successful
or at least temporary loan modifications.
There are still many people facing foreclosure, even though
pre-foreclosures dropped as well. Last month, lenders started
foreclosure proceedings on 7,064 Valley homes, down 12 percent from
March, according to the Information Market. The foreclosure tally for April was 4,446.
Arizona’s plan to spend $125.1 million in federal foreclosure funds
could help as many as 4,350 of the state’s struggling homeowners
this year. The Arizona Housing Department finalized its plan and
sent it to the U.S. Treasury Department a few weeks …
