Hundreds receive foreclosure help

DOWNEY - More than 500 people trying to save their homes attended a foreclosure prevention workshop at Downey Adult School on Aug. 8, where credit counselors and lenders offered free assistance.Organized by the office of Rep. Lucille Roybal-Allard (D-34), housing counselors provided assistance on 288 mortgages. Visitors received on-site assistance and one-on-one counseling. "I am truly sorry that unfortunate circumstances in your life have brought you here today," Roybal-Allard told the crowd in opening remarks. "But you are not alone in your time of crisis." According to Roybal-Allard, foreclosures in the U.S. have tripled since 2006 and reached a record-high during the first half of this year. Congress this month passed the National Foreclosure Mitigation Program, a $63.8 million bill that provides funding to organizations that offer foreclosure counseling. Roybal-Allard also warned residents against fraudulent services and paying for loan modifications. "Families in Downey have been victimized by these swindlers," she said. "You can protect yourself against this fraud by only working with free HUD-certified counselors." To find a local HUD counselor, visit the NeighborWorks website at www.nw.org.

********** Published: August 21, 2009 - Volume 8 - Issue 18