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One North Carolina county’s foreclosures defy national trends

09/18/2009 GRAHAM CAWTHON THE STAR CLEVELAND COUNTY, N.C.
Though the recession has sent national foreclosure rates soaring, Cleveland County, N.C.’s foreclose rates have actually fallen even though unemployment continues to rise. One bankruptcy attorney says the numbers may be misleading because Fannie Mae and Freddie Mac are observing a foreclosures freeze. Protection laws have also been enacted to protect homeowners from foreclosure and from intimidating debt collection practices.

Original story

Labels: bankruptcy, Cleveland County, Fannie Mae, foreclosure, Freddic Mac, long-term unemployment, recession

posted by Valaree and Brea at 5:34 PM