Cleveland Real Estate News

The Feds are adding more mortgage relief assistance and you can read about it here in a Washington Post article. The preliminary information says you need to be at least 90 days behind on your mortgage and still owe 90% of your loan. We’ll find out more as time goes on.

We have more local help on the way and that may be of more interest to you, especially if you are in danger of losing your homes. Many National and local foreclosure groups are helping us in NE Ohio now. I’ve posted a lot about Neighborhood Housing Services and ESOP.

Other groups/alliances are holding a Foreclosure Prevention Workshop next Wednesday, November 19th. It will be held at Cleveland State University in the Wolstein Center at 2000 Euclid Avenue from 2:00pm to 8:00pm.  So if you are working the hours are terrific and will allow you time, hopefully, to attend and get more information.  The more you know about what your options are, the better off you will be.  The phrase knowledge is empowering never made more sense than when it’s applied to the foreclosure issue.

Did you know that a large percentage of people are still not trying to get help while sinking deeper into crisis mode on their mortgages? It’s still scary, even after all that has been promoted and posted about in the main stream media, and in blogs.  There is no shame in getting help.  We all need help at one point or another.  If you are in crisis mode on your mortgage payments, please attend this Workshop.

The groups participating are varied and have done a terrific job already, assisting millions of people - keeping them from going into foreclosure. The Hope Now Prevention Workshop on the 19th will feature The Hope Now Alliance, the PMI Group, among others. Here is an excerpt from their announcemnt on the program:

At these events, homeowners at risk of foreclosure can sit face-to-face with representatives from their lending bank to discuss what special refinancing or mortgage workout programs might be available to them.  Most delinquent borrowers are surprised to learn that banks will wave as many as six month’s worth of late payments and write down mortgage values substantially to preserve homeowners’ loans.  Foreclosure is the most costly option for banks and can lead to bank failures, more than a dozen of which are already impacting the U.S. Economy.

There is also a free mortgage evaluation & checklist  you can fill out ahead of time if you wish (or at least check it out on line).

There will be people at the Workshop who can help you with your mortgage issues, budget issues, credit issues.  It’s not often when you get a wealth of expertise in one spot so I hope a lot of people who are avoiding the issue take the steps needed, by starting with this workshop.

I’ll blog a reminder about this at the beginning of next week, but just wanted you all to be able to put this on your calendar.

Peace Out - 3C

Segnala presso: