Alaska doing well

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Alaska’s foreclosures aren’t as bad as you think

Alaska may be starting to feel the effects of the recession, but despite the increase, officials say Alaska is actually ahead of the curve in solving the problem. Basically it all boils down to being proactive in fighting for your home, before it becomes too late. “We are finding its mostly life events, people have an illness or a death or a job loss where they have no control over what causes them to be delinquent or go into foreclosure,” said Reno.

“If people go into it where they get adjustable rate mortgage, or they go into it with a pay option where they can’t afford the payment when it adjusts, then that is where we have problems,” said Reno. Problems that can be avoided just by getting the right information. “If you are having trouble with your mortgage, the very first phone call you should make is to your bank or mortgage company,”
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