Workshop Will Provide Mortgage Advice

Did you know that in 2007, there were 117 foreclosures within the city limits of Rockville? So far in the first two quarters of 2008, there have already been 122. People from all income levels throughout the City have been struggling with housing burdens beyond their capabilities. It’s important to seek help as soon as you realize you are heading for trouble.

The City, State, and HomeFree USA are holding a free workshop for homeowners who are having difficulty paying the mortgage. The Foreclosure Workshop will be held on Saturday, November 1, 2008 at the Lincoln Park Community Center, from 10 AM to 3 PM.

The program will begin with a one-hour general information session about foreclosures from the panel of sponsors. The rest of the day will be individual sessions with counselors and attorneys. HomeFree USA is an organization that helps homeowners by discussing housing issues and providing confidential counseling.

Registration is required. Call Tanya Hines at the City of Rockville 240-314-8113 or email her at [email protected] to attend and request the individual counseling. Sign and foreign language translation are available. Refreshments will be provided.

If you fall behind in payments or are facing a change in your interest rate, an important first step is to contact your lender and meet with a nonprofit housing counselor. Mortgages can be renegotiated three times, but never sign anything you don’t understand. This workshop is a good start.

As we talked about on Rockville Central Radio, people have a tendency to bury their heads in the sand when faced with financial problems. If you think you are having trouble, you should find out your options in order to make a sound decision for your future.