Free Foreclosure Prevention Workshop Helps
At-Risk Homeowners in Minneapolis
April 21, 2008 (MINNEAPOLIS)—The City of Minneapolis and the Minnesota Home Ownership Center are offering a free workshop for homeowners who are worried about making upcoming mortgage payments, are already facing foreclosure or for anyone interested in learning more about foreclosure. The workshop will be held on Tuesday, April 22, 4:30-8:30pm at the Minneapolis Urban League, 2100 Plymouth Avenue North, Minneapolis. No appointment is needed. Participants are encouraged to stop in at any time during the workshop hours.
"I urge any homeowner who is behind in a payment or facing foreclosure to attend this workshop," said Mayor R.T. Rybak. "Working early with a mortgage lender or foreclosure specialist is best and will provide more options to staying in your home."
"We need residents to stay in their homes if at all possible. Vacant homes lead to a loss of neighbors and the home itself becomes a target for criminal activity," Council President Barbara Johnson (Ward 4) said. "We need to keep residents here in Minneapolis and in their homes, in their communities."
"The City and the Home Ownership Center partnership is designed to help residents," said Julie Gugin, Executive Director of the Minnesota Home Ownership Center. "We work together to provide information to help homeowners stay."
The workshop will provide information on what happens during foreclosures, homeowners’ rights and solutions for long-term housing needs. Participants will be able to ask questions and get free advice—confidentially—from mortgage lending and foreclosure specialists.
For many homeowners, taking action early will allow them to keep their home. Working with a lender or a foreclosure specialist will help many homeowners to avoid foreclosure. Some solutions include extending the mortgage to make up missed payments, temporarily lowering payments or lowering the interest rate to make the loan more affordable.
For more information about foreclosure prevention or to learn about other upcoming workshops, call the Minnesota Home Ownership Center at 651-659-9336 or see www.hocmn.org. The Center works with a network of community-based organizations that offer free, confidential advice about mortgages and foreclosure.
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Contact: Krista Bergert, Communications, CPED, (612) 673-5015
Published Apr. 21, 2008