Group Helping Homeowners Avoid Foreclosure

Foreclosures are at an all-time high and show no signs of slowing down.  The News On 6's Jeffrey Smith reports a community organization is hoping to reverse the trend in Green Country.

In May, more than 450 homes were foreclosed in Tulsa County.  That's a 30% increase from the number of foreclosures from May 2007.  The Association of Community Organizations is doing everything it can to keep families in their homes.

When Dorenda Coleman bought her house, she says she wasn't told that the interest rates would double in five years.  Now, she has to skimp on groceries and limit her travel.

"It's like your robbing Peter to pay Paul, but you have to do it if you want to keep your house in order to keep from going into foreclosure," said Dorenda Coleman of Tulsa.

She says she was pressured in to signing an adjustable rate mortgage.

"For people that are just purchasing homes, they need to go to some type of program that will explain all the little, fine writing," said Tulsan Dorenda Coleman.

The Association of Community Organizations for Reform Now or ACORN is working to do just that.  On Saturday they explained financing options that could help homeowners get back on track.

"It feels like I'm drowning.  Like I'm treading water and I'm sinking," said Robin Watkins of Owasso.

Robin Watkins says she had to re-finance her mortgage after losing her job of 21 years.  She says a lender offered her a fast, low rate, without saying how much it would increase.

"I thought that'd be great, cause here I was, I was laid off from my job.  Here I am working at Wall-Mart now, making a lot less money than I did before," said Robin Watkins of Owasso.

ACORN members say a lack of personal responsibility has helped drive the foreclosure fiasco.  But, predatory lenders have been the main culprits.

"Just cause you think your safe, doesn't mean you're always safe. It can happen to anybody," said Keondra Revels with ACORN.

ACORN is working to get owners back into fixed rate payments.

"A lot of people say I'm too far in and now I can't get help. Never say never," said Dorenda Coleman of Tulsa.

RealtyTrac says one in every 600 Tulsa households in June received a foreclosure filing.  That's almost two and a half times the state average. 

As for Coleman and Watkins, Both of them have set up meetings with credit counselors to go over ways to get back into fixed rate mortgages.