Norton Teams With Treasury Department to Offer Foreclosure Prevention for Struggling Homeowners

June 24, 2010

Norton Teams With Treasury Department to Offer Foreclosure Prevention for Struggling Homeowners on Saturday

WASHINGTON, DC - 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, Foreclosure Prevention Day on Saturday, June 26, from 9:00 a.m. to 3:00 p.m. at the Washington Marriott Wardman Park, 2600 Woodley Rd., NW. This free event is for all D.C. 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.

"I'm partnering with the Treasury Department to hold Foreclosure Prevention Day because of my deep concern that close to eight percent of District homeowners are more than 60 days past due on their mortgage payments," Norton said. "Not even two percent of D.C. residents have received loan modifications. We must make haste to do whatever is necessary to save more homes in this city from foreclosure. I will continue to hold mortgage foreclosure clinics until I see real progress in loan modification rates in this town."

HUD-approved counselors and mortgage lenders will be onsite to provide one-on-one counseling sessions. Representatives will also be on hand to determine homeowners' eligibility for the Obama Administration's Making Home Affordable Program.

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.

Participants are encouraged to bring a valid photo ID; a monthly mortgage statement; the two most recent pay stubs, proof of income, or a most recent quarterly profit and loss statement; the two most recent bank statements; credit card statements and other debt statements; and an estimate of monthly expenses, including utilities, medical bills and insurance.

For additional information on Saving Homes, Foreclosure Prevention Day, please call Congresswoman Norton's District Office at (202) 783-5065.

Neighbor Works America and HopeNow Alliance are sponsors of the event.