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Foreclosure Help In Prince William County
posted 5:05 pm Tue March 04, 2008 -
Big news about help for those trying to keep their homes from foreclosure.
In Prince William County (web|news) , one of the areas hardest hit by the mortgage crisis, a clinic took place in an attempt to rescue those who are on the brink of losing their homes.It's part of an unprecedented effort. Federal, state and local housing authorities along with mortgage lenders, realtors and financial counselors met under one roof at Ebenezer Baptist Church in Woodbridge.
It's a one stop crisis center to help Prince William County residents keep their homes.
"Over fifty percent of the people that lost their homes didn't call a counselor and didn't call a lender," said Larry Laws of First Home Alliance.
Services provided at the site include helping some forego foreclosure. If it's not mediating a lower payment - it's counseling.
"If they can't stay in their home, because of affordability issues, then they need someway of understanding the best way for them to get out of that home, " said Joe Botta.
Lenders say they want to be part of the solution and turn back the tide of mortgage defaults and foreclosures.
"It hurts the overall value of properties it puts people out in the cold so to speak. So it does no good for anyone at all," said Larry Laws of First Home Alliance. A similar clinic will take place on Wednesday, March 5 at the Showplace arena in Prince George's County.
In Prince William County (web|news) , one of the areas hardest hit by the mortgage crisis, a clinic took place in an attempt to rescue those who are on the brink of losing their homes.
It's a one stop crisis center to help Prince William County residents keep their homes.
"Over fifty percent of the people that lost their homes didn't call a counselor and didn't call a lender," said Larry Laws of First Home Alliance. Services provided at the site include helping some forego foreclosure. If it's not mediating a lower payment - it's counseling.
"If they can't stay in their home, because of affordability issues, then they need someway of understanding the best way for them to get out of that home, " said Joe Botta.
Lenders say they want to be part of the solution and turn back the tide of mortgage defaults and foreclosures.
"It hurts the overall value of properties it puts people out in the cold so to speak. So it does no good for anyone at all," said Larry Laws of First Home Alliance. A similar clinic will take place on Wednesday, March 5 at the Showplace arena in Prince George's County.
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