Ohio had the nation’s 11th highest foreclosure rate last month. Locally, banks are seeing a rise in the number of home foreclosures but not necessarily in those seeking help.
Vice President of Century National Bank in Zanesville Brian Kaufman said the spike in foreclosures is likely due to the poor economy and high lives of unemployment. He understands the process of a foreclosure can be overwhelming but said the first thing individuals facing foreclosure need to do is to contact their bank.
"The first thing is people have to communicate with us," said Kaufman. "That seems to be one of the issues that the customers, the people in general, maybe just want to or are afraid to get us involved but we’re really here just to help."
Kaufman explains a number of alternatives to foreclosure, including federal, state and even county programs- the goals all being to keep you in your home. No one should feel ashamed to approach their bank for assistance, Kaufman said the threat of foreclosure affects all walks of life.
"It’s a mixed bag of people that all over the spectrum just because the situations they may be in, loss of job, or sickness or whatever the case may be," said Kaufman. " All kinds of circumstances that affect people lives and affect whether or not they’ll have to go through a foreclosure. "
Remember: the earlier you contact your bank or lender, the more options you will have to avoid foreclosure.