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Foreclosure Forum Gives Troubled Homeowners Free Help

posted 10/30/08 4:38 pm
NewsChannel 8 - Foreclosure Forum Gives Troubled Homeowners Free Help
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PRINCE GEORGE'S COUNTY, Md. - More than 100 homeowners on the brink of losing their homes reached out for last minute help, by packing into a foreclosure forum in Prince George's County. Dozens of attorneys and housing counselors were waiting to offer free advice and one-on-one help.

Prince George's County suffers from the highest foreclosure rate in the state and in an effort to get homeowners back on their feet, Congresswoman Donna Edwards hosted a foreclosure forum. She says losing a home is something she dealt with 15 years ago.

"We borrowed off our 401K. We've done everything to just try and save our home and this is our last straw." Michael Edwards is just days away from losing his home, which is set to be auctioned off November 13th. He says it all started with a bad loan. "Why did they give my wife this home at $2500 a month and tell her she could afford it? Now the mortgage company won't help us because they say you can't afford this."

Edwards is now seeking answers and so are the homeowners who came to the foreclosure forum hosted by Congresswoman Donna Edwards. "I'd rather stop doing all the blame game and do what we can and what all of us can to make sure that you can stay in your homes and build your communities," said Edwards.

Edwards admits that years ago, she was in their shoes and afraid to confront the situation. "I remember looking at the envelope and not wanting to open it because it was just too much," said Edwards.

But she is hoping that workshops like this, which allow attorneys and service lenders to provide advice for free, can get homeowners back on track. "They're giving their time to explain to homeowners what kind of loan they have, what the situation is and what some recommendations are for them," said Diane Cipollone, Director of Sustainable Homeownership Project.

More than 30 attorneys were on hand to help more than 100 participants. Many homeowners left feeling more confident that they'll get out of their mortgage crisis. "It makes me feel better to know that there's still some hope out there," said homeowner Sonia Kelly.
All the homeowners who came out to the event were asked to bring all paperwork related to their current and former mortgages, plus any foreclosure notices. It was the very first forum hosted by Congresswoman Edwards, but she hopes to hold many more in the future.

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