Massive housing announcement Thursday for Western New York

Erie County Clerk Mickey Kearns will make a big announcement regarding housing and foreclosures this Thursday.

The county clerk’s office tweeted information about a surplus of more than $6 million.

Kearns joined Clay and Company earlier this week and hinted that Thursday’s news would be very revealing and, for some, a bit chilling. During the pandemic, there have been no foreclosures in the clerk’s office. Currently, Erie County has at least 7,000 people who are at least 90 days past due on their mortgages. The numbers may get worse as we dig deeper into a recession.

However, Kearns touched on the fact that there are more to come this Thursday that will have a big impact on the local housing industry. But, there is good news for those who fear the worst for their home. Erie County wants you to be able to keep your home and will provide legal assistance and financial counseling for those who may be struggling or unable to keep up with their mortgages.

You are not alone and we want to help you, Kearns tells us. There is help, call my direct line 716 858 6985. We will connect you with FREE help with your mortgage situation. If you are behind on your loan, please stay home.

We’ve all heard stories of people who have paid way more than the asking price for their homes in the past couple of years. But interest rates are rising and home values ​​could suffer. Will there be an increase in the number of people who are upside down on their loans? It’s not out of the realm of possibility.

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