Ms Foreclosure Filings Jump in May

About 434 Mississippi families were reported to have lost their homes to foreclosure last month

Last month nearly 3000 Mississippi homeowners surveyed received at least one foreclosure-related filing, But as MPB's Lawayne Childrey reports one way to avoid foreclosure may be home buyers counseling.

For more than 23 years David Mclaurin of Jackson, only dreamed of owning a home that his family could be proud of.

“Which this is the living room and dining room combined.”

3 months ago that dream came true.

Mclaurin says the road to home ownership wasn't an easy one.

“Paying rent for 23 years that’s a lot of finance really going down the drain but we couldn’t own anything. We tried to push the home a few years ago but it was a lotta red tape”

For fear of making a bad decision and possibly ending up in foreclosure Mclaurin decided to seek the advice of a home buyer counseling service. Sherry Rainey with the Consumer Credit Counseling Service, says all potential buyers should get educated and stick with the rules.

“Do not buy more than you bring in. you do need to maintain a successful budget for your household. Buy considering those emergency situations that are sure to come up once you are in a home.”

“Those people that actually got the counseling actually faired much better.”

That's Sheila Jackson, Executive Director of the Jackson Housing Authority.

“So it’s a misconception. A lot of folks think that a lot of people ran out and got these sub-prime mortgages but the reality is that they were not educated and did not understand. And I think that what we’re trying to do is help that from happening in the future. But also those who are facing that to give them some guidance.”

Last month more than 400 Mississippi families lost their homes to foreclosure. For MPB News I'm Lawayne Childrey.