Consumer Group Proposes Moratorium on Foreclosures
June 28, 2007 (WPVI) -- A local consumer group is calling for a moratorium on foreclosures.
As part of its new national campaign to address the foreclosure crises, the consumer advocacy group - ACORN is reaching out to Philadelphia homeowners.
It is also calling on lenders to institute a one-year moratorium on foreclosures.
ACORN says that would give some consumers enough time to get their finances in order, get new loans, and hang onto their homes.
Darren Evans is at risk of losing his house. He said contractors took out a fraudulent loan in his name, abandoned the job site without finishing the work on his house, and now he can't afford to pay his mortgage.
"I think it's really crazy. Somebody needs to step in and see what's going on here in Philly because I know a few people now who've lost their home to foreclosure. It's really ridiculous. It's out of hand," he said.
Indeed, ACORN recently released a report showing foreclosures in Philadelphia jumped 47-percent in just one year. In April of 2006, there were 646 foreclosure-related filings. This april, the number went up to 949. (READ THE REPORT)
Southwest Airlines will stop flying direct flights from Philadelphia to California by October. The discount carrier will also trim service between Philadelphia and Providence, Rhode Island. The airline is wrestling with high fuel costs and a slow economy. It is cutting 39 flights, but it is also adding 45 flights, including another one between Philadelphia and Nashville. (READ MORE)
Car Buying Savings
Automakers are trying to wow consumers with zero-percent financing and rebates on new cars. Consumer Reports Online is out with its list of new car deals. Two of the best bargains are the Ford Focus and the Jeep Liberty. (READ MORE)
(Copyright 2007 by Action News and 6abc. All Rights Reserved.)
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