Apr 4, 2012 1:44 PM
TUCSON - There's good news on the home front. Banks aren't foreclosing on as many homes as they have in past years.
According to RealtyTrac, in 2011, 1.9 million homes fell into foreclosure across the country. That's 34 percent lower than 2010.
But many are still struggling to keep up with their house payments, especially here in Arizona, which ranks third in the country for foreclosures.
That is why Wells Fargo loan reps are holding workshops in Tucson and Phoenix. On Tuesday, Wells Fargo representatives set up shop inside of the Tucson Convention Center, offering free Home Preservation Workshops to their customers who are struggling to make their house payments. It's a golden opportunity for homeowners to get the advice they need to keep their American dream alive.
"We want our customers to know that we're here for them and we're here to help them," said Joel Sarmiento.
Sarmiento is a Regional Director for Wells Fargo, and he says times are actually getting better. Ninety-two percent of Wells Fargo home loans are current, and Sarmiento said it's even better in Tucson, where 94 percent of homeowners are making their payments. But Sarmiento knows, many are still struggling.
"We know it's a very difficult period of time. We know foreclosure is the last thing that should happen, it's not good for the community, not good for the customer, it's also not good for Wells Fargo," Sarmiento told News4 Tucson.
That's why Wells Fargo is hosting these free workshops. They invited 2,800 customers to this event and they've already met with nearly 33,500 customers across the country. Sarmiento says two out three so far got the help they needed to avoid foreclosure.
Wells Fargo is hosting another Home Preservation Workshop at the Phoenix Convention Center on April 25th.