Blooming Grove – With the threat of foreclosure threatening the homes of residents across the Hudson Valley, U.S. Rep. John Hall (D-Dover) will hold a forum Tuesday to provide the education necessary to help people save their homes. Rep. Hall will introduce Faith Piatt from Orange County Rural Development Housing, who will discuss the options that are open to those facing foreclosure. This will be followed by one-on-one financial counseling on what people can do to refinance their mortgages and save their homes. Rep. Hall is also bringing homeowners and local banks together at this seminar for homeowners to have the opportunity for individual counseling and possibly renegotiate their mortgages.
"The economic recession has created a daunting situation in which millions of Americans face foreclosure on homes they have worked so hard to keep," said Hall. "I am working in Congress with the Administration on plans to assist homeowners who are feeling the pinch of increasing mortgage rates and falling home values."
The financial incentives provided through these plans allow Fannie Mae and Freddie Mac to provide refinanced loans to constituents who have federally backed mortgages. It also provides money to local county organizations to help homeowners work with their mortgage companies to negotiate for lower loan rates.
In order to shed some light on the opportunities offered, Rep. Hall will be holding a seminar to provide an opportunity for homeowners to receive individual loan counseling. The focus, however, is to provide homeowners with the opportunity to meet one on one with housing counselors.
WHO: U.S. Rep. John Hall (D-Dover)
Representative from Freddie Mac
Orange County Rural Development Housing
Local banks and counseling agencies
WHAT: Foreclosure Prevention Seminar and One-on-One Financial Counseling
WHERE: Blooming Grove Town Hall
6 Horton Road
Blooming Grove, NY
WHEN: Wednesday, May 27th, 12pm
