[Durham INC] Durham Foreclosure Prevention Workshop Sept. 17

Thu Sep 10 16:06:30 EDT 2009

CITY OF DURHAM

Office of Public Affairs

101 City Hall Plaza

Durham, NC 27701

News Release

For Details, Contact:

Amy Blalock

Sr. Public Affairs Specialist

(919) 560-4123 x 11253

(919) 475-7735 (cell)

Amy.Blalock at durhamnc.gov <mailto:Amy.Blalock at durhamnc.gov> 

For Immediate Release:  September 10, 2009

Durham Hosts Foreclosure Prevention Workshop for Unemployed Residents
and 

Small Business Owners Sept. 17

Free Workshop Will Provide Counseling Sessions for Residents Facing
Foreclosure or Bankruptcy Due to Job Loss and 

Small Business Owners Facing Lost Income

DURHAM, N.C. - Durham residents and small business owners facing
foreclosure or bankruptcy due to job loss and the current economic
crisis can now seek specialized assistance to save their homes and their
businesses thanks to a City of Durham-sponsored workshop next week.

The City's Foreclosure Prevention Workshop for Unemployed Residents and
Small Business Owners is scheduled for Thursday, September 17, 2009,
from 5:30 p.m. to 7:30 p.m., at the Herald-Sun, located at 2828 Pickett
Road, Durham.

This free workshop will provide counseling sessions for foreclosure
prevention, intervention, and loss mitigation counseling.  Bankruptcy
attorneys will also be available as well as information about the N.C.
Home Protection Program & Loan Fund and how workshop attendees may
qualify to seek a state-funded, interest free loan to save their homes
or maintain their mortgage payments while retraining for a new job.  New
for this session, the Durham JobLink Mobile Unit will also be on-site to
assist attendees that are seeking employment.

A presentation on the Home Protection Program will be provided at this
workshop by Triangle Family Services, Inc., one of the housing agencies
in the state that has partnered with the North Carolina Housing Finance
Agency to help families in financial crisis.  According to Harriett
Reynolds, home protection counselor and loan officer for Consumer Credit
Counseling Services with Triangle Family Services, Inc., the Home
Protection Program is designed specifically for individuals who have
lost their job due to changing economic conditions.  "If someone has
been laid off due to downsizing, company closing, lack of work, or a
documented 50 percent reduction in income, which includes the
self-employed, there is help available to seek a state-funded, interest
free loan to save their homes or maintain their mortgage payments while
retraining for a new job," Reynolds said. "Our agency has assisted many
clients in applying for and being approved for a Home Protection Program
loan, which has allowed them to stay in the home they have worked so
hard to maintain."

According to Reynolds, attendees at next week's workshop will also learn
about long-term assistance while they attend school or a formal training
program.  "Many of our clients have received up to 24 months of
assistance with their mortgage, home owner's insurance, taxes, and home
owner's association dues," Reynolds said.  "The long term assistance is
a win-win for people because they not only have their mortgage taken
care of, they now have the opportunity to enhance their skill set by
attending school and obtaining an associate's degree or certification in
a chosen field. Getting a degree or certification will ultimately
increase the likelihood of them finding employment and resume making
their mortgage payments."  

In addition to learning more about the Home Protection Program,
participants will also receive information on how they may be able to
work out repayment plans and loan modifications with their mortgage
lender or servicer thanks to the Consumer Economic Protection Act of
2009 (CEPA - Senate Bill 974).  CEPA requires lenders to explain in
detail their efforts to resolve delinquent home loans without resorting
to foreclosure.  Among other things, it empowers the Clerk of Court
presiding over a foreclosure hearing to ask what steps have been taken
to prevent foreclosure and to continue the hearing for up to 60 days to
allow homeowners and lenders more time to negotiate a solution;
standardizes the amount of bond required at one percent of the balance
due on the loan; and protects consumers from unfair debt collection
practices by debt buyers who must now prove that they have the right to
enforce the debt and be able to verify the amount owed. 

Pre-registration for this workshop is required.  Interested participants
should pre-register by calling (919) 560-1647, ext. 34266 or online at 
www.durhamnc.gov/departments/nis/foreclosure_workshop.cfm.
Pre-registered participants are also encouraged to bring multiple
documents to this workshop, such as a deed of trust, correspondence from
their mortgage company, and more.  The complete checklist can be found
on the City's Web site at 
www.durhamnc.gov/departments/nis/pdf/foreclosure_checklist.pdf. 

This workshop is sponsored by City of Durham Departments of Neighborhood
Improvement Services, Community Development, and Office of Economic &
Workforce Development; Durham JobLink Career Center; Triangle Family
Services, Inc.; North Carolina Housing Finance Agency; SunTrust;
Triangle East Chapter of 100 Black Men; National Association of Consumer
Bankruptcy Attorneys; Durham Regional Community Development Group;
Neighborhood Pride Alliance; John T. Orcutt, P.C.; and the State
Employees Credit Union.

For more information about this workshop, contact Cynthia Mebane-Watts,
community relations coordinator with the City's Department of
Neighborhood Improvement Services, at (919) 560-1647, extension 34265 or
via e-mail at cynthia.mebane-watts at durhamnc.gov. 

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