| City of Madera Foreclosure Prevention Workshop This Saturday |
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| News - Local | |||
| Wednesday, 20 June 2012 02:08 | |||
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MADERA - The City of Madera in collaboration with the Housing Authorities of Madera and Fresno are hosting an area wide Foreclosure Prevention Workshop. The City of Madera outreach event will provide homeowners at risk of foreclosure an opportunity to personally meet with their lender representative to see if they are eligible for a loan modification. At the workshop, homeowners may get answers to their questions and learn what options they may have. Lenders co-sponsoring the event include Bank of America, Chase, and Wells Fargo. Additionally, HUD certified housing counseling agency counselors will be available to assist homeowners. Homeowners should come prepared and are urged to call their lender for a list of documents required and to remember to only bring copies not originals. The workshop is free!
According to Mayor Brett Frazier, the goal is to help homeowners reduce future foreclosures by providing resources they may not be aware they have as an option. Mayor Frazier is committed to neighborhood revitalization and understands that the current unprecedented foreclosure dilemma has largely contributed to neighborhood blight by displacing families resulting in a negative impact on many communities. The foreclosure workshop is a timely outreach to help distressed homeowners in economically desperate times. The City of Madera recognizes the urgency to partner with major banks, housing counselors, schools, businesses, and local organizations to help successfully promote this worthy event affecting real lives. This is an area wide event and the City encourages all to help spread the word to homeowners in danger of losing their homes to attend this valuable workshop presented in the heart of the Central Valley. The Central Valley has one of the highest rates of home foreclosures. Madera’s levels are no exception in addition to high unemployment rates. The mortgage housing crisis is not over and likely to continue. Corelogic, a mortgage data research company, recently reported that one in three California homeowners have a mortgage that is underwater, which means they have mortgages that exceed the current home values. Half of these are deeply underwater making them extremely vulnerable to a future foreclosure in the event of an unexpected circumstance or hit to their income. The City of Madera believes an immediate response is warranted and is actively engaged being part of the solution for its residents and surrounding neighbors. The event will be held at the Pan American Center in Madera at 703 E. Sherwood Way and will go all day from 9:00 a.m. to 6:30 p.m. Regarding questions about the workshop, you may call Sue Saunders, Neighborhood Outreach Specialist for The City of Madera, at (559) 661-2852. More information about The City of Madera is available online at www.madera-ca.gov. ###
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