Story Created:
Apr 22, 2008
Story Updated:
Apr 22, 2008
A number of homeowners in the Milwaukee area are trying to keep homes in the midst of a national housing crisis.
Hundreds of people showed up to the Hilton Milwaukee River Hotel on Monday to talk to bankers about preventing foreclosures.
"It's a hard, hard battle," said event attendee Monique Ray, who's 11% APR pushed her mortgage from $700 to more than $1,600 per month.
"I think owning your home is one of the most important things you can do," but it's been a challenge for her with a combination of health issues.
"I am a diabetic, and I have been sick with stress worrying about bills and how I am going to pay my mortgage."
The foreclosure rate increased by 37% this year in Milwaukee, according to housing advocates.