LANSING – State Representative Shanelle Jackson (D-Detroit) today announced that she, along with the advocacy group Association of Community Organizations for Reform Now (ACORN), will host a town hall meeting to discuss the prevalence of foreclosures in the Detroit area.
"Our working families are struggling to make ends meet during these tough economic times," Jackson said. "Many homeowners are just barely getting by – trying to keep the homes they purchased when interest rates were low and good-paying jobs were more abundant. We must work together to ensure that our families can keep their homes."
According to Realty Trac, Detroit ranked No. 1 in the nation for foreclosures in January. Wayne County's foreclosure rate is higher than any county in any of the nation's largest metropolitan areas. In addition, the number of foreclosure filings in Wayne County from 2005 to 2006 more than doubled from 18,176 to 40,220, translating to one of every 21 homes, according to a Jan. 24 article in the Detroit Free Press. In Oakland County, Michigan's wealthiest, the number jumped from 3,754 in 2005 to 7,282 meaning one of every 68 homes.
A mortgage foreclosure specialist will attend the town hall meeting, in addition to an attorney with ACORN to address legal concerns, and state legislators to discuss legislative solutions to the foreclosure epidemic.
The town hall meeting is scheduled for 6 p.m. at LelandMissionaryBaptistChurch, 22420 Fenkell St. in Detroit.
"Foreclosures in Michigan are an epidemic," Jackson said. "I urge residents to attend this informational town hall meeting so as to learn more about foreclosures and how we can work together to help stop this growing problem."