WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-Home foreclosures rising in Charlotte

Home foreclosures rising in Charlotte

CHARLOTTE, NC (WBTV) - The impact of the bailout can be felt from Wall Street to Main Street or in this case, the Peachtree Hills neighborhood.

This northwest Charlotte community is a prime example of the mortgage meltdown.

Ponita Ballard and her family moved here from New York right after 9/11.

She doesn't like what's happened to her community.

"Many of the homes are foreclosed," she said.

Charlotte's Community Development Director Stanley Watkins says the number of foreclosures is growing.

"All over the city, we had about 8,000 foreclosures last year, and this year we're on track to have about 9,000 foreclosure filings," Watkins said.

Part of the remedy is coming from the local nonprofit Self Help which is planning to buy distressed properties and give families a second chance with a rent or lease to own program.

Evan Covington-Chavez is connected to the program.

"What we can do is make sure the homes that have been foreclosed or that are now vacant, unoccupied or vandalized, can be occupied again," she said.

This is good news for Ballard who is fed up with changes in her subdivision including robberies, home broken into and foreclosures.