Delahunt To Host Foreclosure Workshop On March 26

03/11/2008

WASHINGTON, DC – Congressman Bill Delahunt announced today that he will hold a forum Wednesday, March 26, on “Avoiding Mortgage Foreclosure.” The forum will provide information to homeowners on Cape Cod whose mortgages have reset to sharply higher rates or will do so in the next two years.

“There are more than 2,000 homeowners in this region that are at risk of losing their homes due to escalating mortgage costs,” Delahunt said. “This forum will provide my constituents an opportunity to learn what their options are and how they can avoid the danger of foreclosure.”

The March 26 forum will begin at 6 p.m. at the Barnstable Senior Center, 185 Falmouth Road (Route 28) in Hyannis and will feature representatives from Mass-Housing, the Housing Assistance Corporation, the Federal Housing Administration and local banks.     

The forum will include brief presentations on household budgeting, credit issues, mortgage terminology, various types of flexible mortgages, refinancing to obtain more affordable payments.  The forum will also provide information on the HomeSaver and the FHA HomeSecure mortgage programs. Participants will learn about agencies that can give advice when interest rates increase or foreclosure threatens.

After the program, homeowners will have an opportunity to talk with representatives of banks and finance agencies that offer refinancing opportunities.

Homeowners planning to attend may pre-register by calling Nancy Crockan at HAC, 508-771-5400 x 289.

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