{"id":319,"date":"2019-01-30T15:00:17","date_gmt":"2019-01-30T15:00:17","guid":{"rendered":"http:\/\/mortgagemodificationri.com\/blog\/?p=319"},"modified":"2019-03-24T01:56:18","modified_gmt":"2019-03-24T01:56:18","slug":"stop-foreclosure-ri","status":"publish","type":"post","link":"http:\/\/mortgagemodificationri.com\/blog\/2019\/01\/30\/stop-foreclosure-ri\/","title":{"rendered":"Stop Foreclosure"},"content":{"rendered":"\n<p>Foreclosure is an issue that affects Rhode Islanders all\nacross the state.&nbsp; Although the number of\nhomes that are foreclosed on varies by county and town, every community in\nRhode Island is affected by foreclosure.<\/p>\n\n\n\n<p>In Rhode Island, foreclosure happens in about 1 out of\nevery <a href=\"https:\/\/www.realtytrac.com\/statsandtrends\/foreclosuretrends\/ri\/\">3,400<\/a>\nhouseholds.&nbsp; However, some counties have\nmore foreclosures than others.&nbsp; For\nexample, Washington County has the least amount of foreclosures, with only 1 in\nevery 9,000 homes being foreclosed on.&nbsp;&nbsp; However,\nKent County has the most foreclosures, with 1 in every 2,700 homes being\nforeclosed on.<\/p>\n\n\n\n<p>Even within the counties, the number of foreclosures\ndepends on which city or town the home is in.&nbsp;\nFor example, Coventry, which is part of Kent County, has about 1\nforeclosure for every 14,000 homes.&nbsp; &nbsp;Narragansett, part of Washington County, has\nabout 1 in every 9,000 homes foreclosed on.<\/p>\n\n\n\n<p>Across America, approximately <a href=\"https:\/\/www.fdic.gov\/about\/comein\/files\/foreclosure_statistics.pdf\">250,000<\/a>\nhomes go into foreclosure every 3 months.&nbsp;&nbsp;\nHomes go into foreclosure for many reasons.&nbsp; The bottom line is that the homeowner gets\nbehind on their mortgage payment, and the bank forecloses on the home as a\nresult.&nbsp; Many times, an emergency or\nother unexpected situation occurs that causes the homeowner to get behind on\ntheir mortgage payment.&nbsp; For example, a\nhomeowner could lose their job, or have to deal with unexpected medical\nexpenses.&nbsp; Approximately <a href=\"https:\/\/www.fdic.gov\/about\/comein\/files\/foreclosure_statistics.pdf\">half<\/a>\nof all Americans live paycheck to paycheck.&nbsp;\nFurther, almost half of all Americans don\u2019t have enough money saved to\nsupport themselves for three months if they needed to.<\/p>\n\n\n\n<p>Most homeowners want to avoid foreclosure.&nbsp; Foreclosures impact your credit score\nnegatively, which can impact your financial future.&nbsp; Further, many love their homes, and don\u2019t\nwant to go through the hassle of moving and uprooting their families.<\/p>\n\n\n\n<p>If you live in Rhode Island, mortgage companies are\nrequired to work with you to avoid foreclosure if it\u2019s possible.&nbsp; In certain situations, a <a href=\"http:\/\/mortgagemodificationri.com\/blog\/2019\/02\/07\/mortgage-modification-lawyer\/\">mortgage\nmodification<\/a> may be able to stop a foreclosure.&nbsp;&nbsp; A mortgage modification changes a term of\nthe original mortgage to help the homeowner in some way.&nbsp; For example, a mortgage modification may\nlower a mortgage payment, or it may help a homeowner become current without\npaying all of the money owed up front.&nbsp;\nBecause of this, a mortgage modification may allow you to stop a\nforeclosure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Mortgage Modification Center<\/h2>\n\n\n\n<p>If you are facing foreclosure but want to keep your home, the Mortgage Modification Center may be able to help you.\u00a0 <a href=\"https:\/\/www.law-ri.com\/\">Attorney John S. Simonian<\/a>, who leads the <a href=\"http:\/\/mortgagemodificationri.com\">Mortgage Modification Center<\/a>, has been helping clients throughout Rhode Island and Massachusetts for over 26 years.\u00a0 In addition to helping clients with their mortgage modifications, Attorney Simonian also specializes in bankruptcy law and other financial matters.\u00a0 For your free initial consultation to see how the Mortgage Modification Center may be able to help you, please call (401) 467-7998.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Foreclosure is an issue that affects Rhode Islanders all across the state.&nbsp; Although the number of homes that are foreclosed on varies by county and town, every community in Rhode Island is affected by foreclosure. In Rhode Island, foreclosure happens &hellip;<a class=\"rm\" href=\"http:\/\/mortgagemodificationri.com\/blog\/2019\/01\/30\/stop-foreclosure-ri\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[66,60,3],"tags":[78,5,4,24,11],"class_list":["post-319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreclosure","category-loan-modification","category-mortgage-modification","tag-foreclosure-prevention","tag-loan-modification","tag-mortgage-modification","tag-mortgage-modification-center","tag-rhode-island-foreclosure"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stop Foreclosure &#8226; 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