Norton Partners With Treasury Department to bring Mortgage Lenders and Counselors to Help Struggling Homeowners on Foreclosure Prevention Day, Saturday
Press Release
Congresswoman Eleanor Holmes Norton (D-DC), the U.S. Department of Housing and Urban Development (HUD), and the U.S. Department of Treasury will host Saving Homes, 3rd Annual Foreclosure Prevention Day on Saturday, June 4, from 10:00 a.m. to 5:00 p.m. at the Walter E. Washington Convention Center, 801 Mount Vernon Place, NW. This free event is for all Washington metropolitan area homeowners who are at risk of foreclosure or struggling with making their mortgage payments due to illness, job loss, reduction in wages, or an increase in monthly expenses. HUD-approved counselors and mortgage lenders will be onsite to provide one-on-one counseling. Representatives will also be on hand to determine homeowners' eligibility for the Making Home Affordable Program. Residents will be able to do one-stop shopping for help with housing because the D.C. Housing Expo and Foreclosure Clinic also will provide free credit reports and helpful workshops on home ownership and related matters.
"We are partnering again with the Treasury Department to hold Foreclosure Prevention Day because of the continuing need to help District homeowners who are past due on their mortgage payments," Norton said. "Although the rate of foreclosures nationwide has slowed, the housing market here and nationally is biting into economic recovery. We will continue to hold mortgage foreclosure clinics until our residents have received sufficient assistance."
During last year's Foreclosure Prevention Day, HUD-approved counselors, 13 mortgage lenders, and Fannie Mae and Freddie Mac provided one-on-one services to 765 homeowners, many of whom received home loan modifications on the spot.
The Making Home Affordable Program allows eligible homeowners to reduce their monthly mortgage payments through a home loan modification or refinancing process. It also includes opportunities for those homeowners who are interested in receiving relief through short sales or deeds-in-lieu of foreclosure.
Source