Homeowners in foreclosure hope Obama's stimulus package will help ease the mortgage crisis.

Real estate trouble close to home

By: Andre Lockett, Editor, The Rustorian

Posted: 2/28/09

Despite the national average of home foreclosures being all-time high, Mississippi is doing quite well. In the 2008 foreclosure report released by RealityTrac Inc, Mississippi is ranked 46 out of 50 states in terms of foreclosure rates.

While the national average for foreclosures was 1.84 percent, Mississippi's was only .18 percent. However, the Marshall County area shares .4 percent of the 2,364 foreclosure filings last year in Mississippi.

Joanne Clark, a real estate agent for Crye-Leike Realtors, said the Holly Springs real estate market is not under much stress either. "Our community is doing fine we have not been affected as much as the bigger cities have. Of course, the economic crisis has affected us in small ways but nowhere near the point where families are losing their homes," said Clark.

She believes the stimulus plan will help stall the foreclosure rate in Marshal County. "The stimulus plan will definitely put our small market back steam rolling, but it is more in terms with major cities and the major foreclosure rates they face."