Sylmar, CA – August 17, 2011 – (RealEstateRama) — Home affordability is higher now than in the past. The down side is that during the last two years, families in Los Angeles County lost their home to foreclosure every 15 to 18 minutes. Southern California residents can take the first step in the home buying process or saving the home they already own from foreclosure, by attending a FREE Housing Workshop on Saturday, September 10, 2011.
“My dream is to help more families in our neighborhoods prevent foreclosure, but it is also to help families build wealth by purchasing a home now that prices are more affordable than ever,” says Mrs. Lori Gay, foreclosure crisis expert and President & Chief Executive Officer of Neighborhood Housing Services of Los Angeles. “If you have a 620 or better credit score, stable income and some money in the bank, we can help you to invest in real estate and your neighborhood,” said Mrs. Gay. Homeownership creation is imperative to alleviate the impact of the economic crisis and stabilize neighborhoods.
In June 2011, there were more than 11,250 foreclosure filings in Los Angeles County. Abandoned and neglected homes attract crime and vagrancy into once viable neighborhoods, and increase the incidence of homelessness in our communities. Exacerbating the issue is high unemployment and the low volume of permanent loan modification being made available to families facing foreclosure. In addition, an increase in foreclosures is likely to occur when $300 billion worth of adjustable rate mortgages are expected to reset upward. Homeowners should bring their most recent mortgage statement(s) and a monthly budget to get the most benefit from meeting with a foreclosure prevention counselor from a HUD certified housing counseling agency.
Where: Los Angeles Mission College-13356 Eldridge Avenue, Sylmar, CA. 91342
When: Saturday, September 10, 2011 – 9:00 a.m. – 2:00 p.m.
What: “Hope” for those who dream of purchasing a home. Orientations will include home buying process, including down
payment assistance programs. “Help” for those who already own a home and may be in danger of losing it to
foreclosure. Discussion will include the foreclosure process and foreclosure counseling.
About NHS of Los Angeles County
Since 1984, NHS has reinvested more than $2.3 billion into neighborhoods throughout the county. As a part of our work, we have developed and rehabilitated more than 12,600 housing and commercial units, put 2.3 million families on the road to homeownership, created 175 block clubs, and employed 200 neighborhood youth. In 2007, NHS established the Los Angeles County NeighborWorks® Center for Foreclosure Solutions to address the foreclosure issue. NHS is the largest, non-profit, affordable homeownership prothree logosvider in Southern California.
Rhonda J. McMillan
Assistant Vice President
Neighborhood Housing Services of Los Angeles County
3926 Wilshire Blvd., Suite 200
Los Angeles, CA. 90010-3303
(213) 381-286 X219
Establishing, Protecting and Preserving Lifelong Homeowners
Media Contact Only:
Lori Gay, Neighborhood Housing Services of Los Angeles County
Ofc: (213) 381-2862 ext. 201 Ÿ