Foreclosure Clinic by City of Rancho Cordova

Provided by Ken Cooley, Rancho Cordova Council Member

Avoiding Home Foreclosure:
A Homeowner Mortgage Clinic
To be held December 12th, 2007, 6:30 – 8:30 p.m.
Rancho Cordova City Hall

We’ve all heard about the home foreclosures that have been occurring in the Sacramento Region as the result of the real estate downturn and problems in the lending market. City residents with loan worries are urged to help themselves and their neighborhood by calling their lender to see what alternatives they may have to address a loan problem. It’s an amazing fact, but today national finance leaders are telling bankers it makes more sense to modify a problem loan rather than get saddled with the expense of repossessing and being responsible for upkeep at foreclosed properties.

On Wednesday, December 12th, from 6:30 to 8:30 p.m., the City Council Chambers in Rancho Cordova City Hall will be host to an informative Homeowner Mortgage Clinic to help at-risk homeowners know their options. Presentations by nationally-respected NeighborWorks (an independent, not-for-profit organization that promotes responsible home ownership), by the Fair Housing Commission of Sacramento County (with tips on avoiding foreclosure scams) and by the lending community will help attendees know steps they can take to address their loan worries and improve the odds they can avoid losing their family home to the auction block.

Another excellent resource is NeighborWorks National Housing Hotline at 1-888-995-HOPE (1-888-995-4673). You can reach them online at http://www.995hope.org/)

The NeighborWorks Housing Hotline can connect a family in need with an educated, compassionate counselor. You’ll receive counseling and a written action plan to help you manage your finances and get back on track. If needed, your counselor will connect you with local housing agencies, employment networks, or other community resources.

Even if you feel like you’re too far behind already on your mortgage payments, calling right now could be the difference between keeping your home and being forced out of it. Call 1-888-995-HOPE today, or visit http://www.995hope.org/.

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