Philadelphians affected by the mortgage foreclosure crisis now have more options, thanks to a new public outreach program from Philadelphia Mayor Michael Nutter.
Nutter unveiled the Philadelphia Mortgage Foreclosure Protection Program on Tuesday. The plan aims to help struggling Philadelphians hold onto their homes.
"We want to help any families who are worried about their mortgages and worried about keeping their homes," Nutter said at a press conference. "It is important that we get the message out to people: it is not too late."
The plan includes free housing counseling services and a hotline people can call if they are having mortgage problems.
This announcement follows last year's 6,200 foreclosure filings in Philadelphia, an increase of 18 percent over the previous year.
This year, 8,500 filings are expected.
Nutter hopes these measures will reduce these high rates.
"We're here to help you keep your home," he said.
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