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Free Workshop will Help Homeowners Prevent Foreclosures

With more than 500 home mortgages in default in Pasadena since July 2008, the city of Pasadena is co-sponsoring Save Your Home, a workshop Saturday, March 21, to help prevent foreclosure.

The free workshop, from 9 a.m. to 1 p.m. at Lake Avenue Church, 393 N. Lake Ave., is intended for people who have received a notice of default, are behind in their mortgage payments or are at risk of losing their home to foreclosure.

 

Look for free parking with entrances at Maple Street and Villa Street.

Participants will receive home loan reviews and debt counseling by representatives from American Home Mortgage Servicing/Option One Mortgage, Chase Bank, EMC Mortgage, Freddie Mac, GMAC, IndyMac Federal Bank, Washington Mutual, Wells Fargo and other lenders.

Homeowners who attend are required to bring copies (not originals) of loan documents for all existing loans, their most current mortgage statements, bank statements and pay stubs for the last two months, tax returns for the last two years and rental contracts or roommate agreements if applicable.

Also required are a completed registration form and Pasadena Neighborhood Housing Services intake form. Both are available at www.cityofpasadena.net (look under What's New) or by calling (626) 744-8331.

Informational resources will provide guidance to get homeowners through their financial difficulties, including representatives from the Housing Rights Center, Los Angeles County Tax Assessor and Los Angeles County Department of Consumer Affairs.

The workshop is co-sponsored by Pasadena-Foothills Association of Realtors, California Association of Mortgage Brokers and Pasadena Neighborhood Housing Services with additional funding from IndyMac Federal Bank.

The goal of the city of Pasadena's Housing Department is to see that all Pasadena residents have equal rights to decent, safe and affordable housing for their long-term well being and the stability of their communities.

 

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