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Residents can learn, speak about foreclosures

EDGERTON — Though the foreclosure crisis hit Rock County later than some parts of the country, it certainly has taken its toll on the area.

Now, a state taskforce is giving local residents the chance to hear and be heard on the issue.

State representatives are holding public meetings in their home districts as part of the Speaker's Taskforce on Preventing Home Foreclosures. Rep. Kim Hixson will host a meeting at 10 a.m. Monday at the Edgerton Public Library, 101 Albion St.

The meeting will include representatives from banks, real estate agencies, the Rock County Sheriff's Office and the Wisconsin Housing and Economic Development Authority, Hixson said.

The taskforce hopes to give information to homeowners and learn how the state can help, he said.

"It's a good chance for people to come and ask questions of all these (experts) and hopefully as well to kind of let people vent, because it is a very frustrating time" he said.

Rock County in 2009 saw 632 foreclosure filings through June 30, according to the Rock County Clerk of Courts Office. That's up 35 percent from the 467 filings in the first half of 2008.

A foreclosure filing does not necessarily mean the home will be foreclosed on. In some cases, the homeowners and creditors work out agreements to avoid the ultimate foreclosure sale conducted each week by the Rock County Sheriff's Office.

Walworth County foreclosure filings are up 40 percent, according to a news release from Hixson's office. Jefferson County filings are up 8 percent.

Most of the meeting will be a question-and-answer session, but Hixson also will speak about recently passed and proposed foreclosure legislation.

Two items included in the state stimulus bill aim to offer additional protections to homeowners and tenants of landlords facing foreclosure.

The Tenant Protection Act requires landlords to inform tenants if their building is involved in a foreclosure action and allows tenants to withhold rent to recover security deposits in the case of a foreclosure.

The Homeowner Protection Act regulates the foreclosure consultant industry and offers protection for struggling homeowners against predatory refinancing schemes.

Another bill awaiting vote in the Assembly would delay home foreclosure actions for 90 days.

"That would give people just a little bit more time" to avoid foreclosure, Hixson said.

The taskforce is expected to compile its findings into a final report to be presented in August.