The Center for Foreclosure Solutions and local politicians team up with 11 of the Top Lenders to Help Families in Inglewood, California on Saturday, December 4, 2010
Los Angeles, CA – December 3, 2010 – (RealEstateRama) — The Los Angeles County NeighborWorks® Center for Foreclosure Solutions (CFS) coalition has been helping families facing foreclosure since the beginning of the mortgage crisis. As families head into the holidays, the significance of having a home is more important than other times in the year. As foreclosure activity and joblessness remain historically high, helping families to stay in their home or prepare to purchase a home is critical this holiday season.
During the past two years, families in Los Angeles County lost their home to foreclosure every 15 to 18 minutes. We are seeing a similar trend as we enter the middle of the fourth quarter of 2010. Dataquick Information Systems reports 23,223 families have already lost their home to foreclosure in 20101. As the foreclosure crisis continues, The Center for Foreclosure Solutions coalition is in the unique position to HELP families facing foreclosure and provide HOPE for families who dream of buying a home. Our upcoming Help & Hope Fair serves the dual purpose to help families avoid foreclosure and provide hope to families who dream of purchasing a home now that affordable homes are available.
“The silver lining of the foreclosure crisis is home affordability is high and will remain high in the near term,” says Mrs. Lori Gay, foreclosure crisis expert and president & chief executive officer of Los Angeles Neighborhood Housing Services (LA NHS). “If you have a good credit score, a stable income and some money in the bank, we can help you to invest in real estate and your neighborhood,” says Mrs. Gay. LA NHS is sponsoring the Help & Hope Fair in partnership with the Federal Home Loan Bank of San Francisco, City of Inglewood, Keep Your Home Foundation, The CALIFORNIA ASSOCIATION OF REALTORS®, Bet Tzedek, Legal Aid Foundation?Los Angeles, Asian Pacific American Legal Center and Public Counsel. Over 750 families are expected to attend the fair in search of help to stop foreclosure on their home or purchase a foreclosed home.
Where: The Tabernacle, 321 N. Eucalyptus Ave., Inglewood, CA 90302
When: Saturday, December 4, 2010 ? 9:AM – 2:PM – Arrive early to avoid a long wait.
What: HUD certified housing agencies, lenders/servicers and attorneys with information on foreclosure prevention and the home?buying process, including down payment assistance programs. American Home Mortgage Finance, Bank of America, Carrington, CitiMortgage, Fannie Mae, Freddie Mac, GMAC, HSBC , JP Morgan Chase, OneWest Bank, PNC Mortgage, Saxon and US Bank will be onsite working to help families.
About Los Angeles Neighborhood Housing Services
In the last 26 years, LA NHS has reinvested more than $2.2 billion into neighborhoods throughout the county. As a part of our work, we have developed and rehabilitated more than 12,200 housing and commercial units, put 2.1 million families on the road to homeownership, created 175 block clubs, and employed 200 neighborhood youth. As a lender to underserved communities, we have maintained a loan portfolio with a 5% or less delinquency ratio and no foreclosures since inception. In 2007, LA NHS established the Los Angeles County NeighborWorks® Center for Foreclosure Solutions to address the foreclosure issue. LA NHS is the largest, non?profit, affordable homeownership provider in Southern California.
Media Contact Only:
Liliana Argüello, LA Neighborhood Housing Services
Ofc: (213) 381?2862 ext. 216