Local Workshops And Foreclosure Lessons

January 22nd, 2008

Help in the form of workshops is around the corner for those house owners why are apprehensive about rising interests. There are plans for six foreclosure workshops in the hall of United Steelworkers of America Union on 376 Longview Avenue. These are free workshops. The first will be held on Tuesday 22^nd January. The programme has been the brainchild of Common Pleas Judge of Richmond, James DeWeese. His target is to make people facing foreclosures to be aware of the weapons they have to stave off the menace.

The workshops will be presented by senior loan officer of Apex Lending, Norwalk – Debi Brokaw and the branch manager of the same concern – John Chime. Those who want to enroll are asked to contact Brokaw. No registration is necessary. No awkward blunt questions will be asked.

The workshop is for all those who are lagging behind in their mortgage payments or unsure about sustaining credit. Help in some form will be offered to all who call. Brokaw commented that with the rise in the number of foreclosures it is becoming clear that those buying houses on mortgage are unaware of its full implications. Brokaw wants the affected to realize that although in some cases foreclosures just cannot be avoided, in many cases there are alternatives.

The workshops will discuss the differences between fixed and adjustable rate mortgages and why it is that the latter are ending up with foreclosures. The question is what avenues of escape are open to those facing it. The question of credit rating will be addressed. Improving it will make it possible to go for a mortgage with a lower rate of interest. It is essential to find out if the housing professional dealing with the matter has a license or not. Another point is to find out how payments can be made towards the principal and bring down the monthly instalments and interest. Those in the army can save their houses through a special act – Soldiers and Sailors Relief Act. Brokaw stressed that the workshops are not binding and the participants after knowing all that is to be known, are free to follow the path of their choice.

Loan officer Brokaw lives in Mansfield. She wants to make clarify that she doe not want to increase her own business prospects by running these workshops.

The dates for the forthcoming session will be announced shortly.