State of Ohio
FOR IMMEDIATE RELEASE
NOVEMBER 5, 2007
Dennis Ginty (Commerce) at (614) 644-9564
Tyler Lowry (Treasurer Cordray) at (614) 752-2747
Kelly Taylor (OHFA) at (614) 728-4270
BORROWER OUTREACH DAY TO BE HELD
IN CINCINNATI ON MONDAY, NOVEMBER 19
Event Designed To Help Southwest Ohioans Concerned About Foreclosure
With the number of home foreclosures significantly increasing in Ohio, the State of Ohio is sponsoring an event to help southwest Ohioans avoid foreclosure.
Borrower Outreach Day will be held on Monday, November 19, from 2 p.m. to 8 p.m. at Xavier University's Schiff Conference and Banquet Center at the Cintas Center, 1624 Herald Avenue, Cincinnati. The event is being co-sponsored by the Ohio Department of Commerce, Ohio Treasurer Richard Cordray, and the Ohio Housing Finance Agency.
Note: To protect the privacy of the individuals attending this event, no cameras or video cameras will be permitted.
Several mortgage loan servicers will be attending the event to meet one-on-one with borrowers who are having difficulty making their mortgage payments. The current list of the loan servicers who will be participating in the event are:
Carrington Mortgage Services
Citi Residential Lending Inc.
EMC Mortgage Corp.
HSBC Mortgage Services
Litton Loan Servicing
National City Mortgage
Select Portfolio Servicing
Wells Fargo Home Mortgage
The number of foreclosures is increasing as many adjustable rate mortgages with low "teaser" rates are being reset to higher interest rates and higher monthly payments. Government officials strongly encourage borrowers who are having difficulty meeting their mortgage payments to take action. One of the best ways for homeowners to prevent foreclosure is to work directly with their loan servicer.
Local, state and federal housing experts and housing counselors also will provide additional resources. In addition, Borrower Outreach Day attendees will have the opportunity to participate in several brief workshops throughout the day. The titles of the workshops are:
. Borrower Beware - Foreclosure Rescue Scams
. Keys to Home Preservation
. Options for People Struggling with Their Mortgage Payments
. Rebuilding Your Credit
. Steps in the Foreclosure Process
Information on Borrower Outreach Day is available at http://www.com.state.oh.us/bod. This site is updated as new information is available, including any additional loan servicers who will be participating. Information on foreclosure prevention is available by going to the Ohio Department of Commerce website at http://www.com.ohio.gov and clicking on "Foreclosure Information."
In addition to the upcoming Cincinnati event, Borrower Outreach Days were held in Nelsonville on September 13, Columbus on September 18 and the Toledo area on September 25. In addition, the U.S. Department of Housing and Urban Development sponsored a Homeownership Preservation Clinic in Cleveland on August 30, which was supported by the State of Ohio. About 1,100 Ohioans have attended the prior events.
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Note: To help promote the Cincinnati event, advance interviews are available with: . Kimberly Zurz, Director of the Ohio Department of Commerce
. Richard Cordray, Treasurer of Ohio
. Doug Garver, Executive Director of the Ohio Housing Finance Agency
Director Zurz served as Chair of the Foreclosure Prevention Task Force and Treasurer Cordray and Executive Director Garver served as members of the task force.
Wonder how many of THEIR victims will be showing up?