Delaware Foreclosure event with Sen. Tom Carper and Gov. Jack Markell
Good morning!
We need your help in getting this message out to the community and people who are affected by the possibility of foreclosure. Can you help us by sharing this information with the public in a calendar section? By doing a pre-Saturday story? PLEASE help us spread the word so those people who need help can get help.
On Saturday, March 7th from 12:00pm - 2:00pm at West End Neighborhood House, Sen. Tom Carper and Gov. Jack Markell are hosting an event for folks who are facing foreclosure to come get more information about how to work with their lenders.
So far, we have confirmed the following participants: Delaware Community Reinvestment Action Council, Neighborhood House, West End Neighborhood House, the Delaware Bank Commissioner’s Office and the Delaware State Housing Authority. We have invited a dozen non-profit housing and credit counseling agencies to attend.
We understand that you may not be able to cover this event on a Saturday, but we thought it was important to hold it over the weekend so people didn’t have to take time off from work to attend.
We know that there were more than 500 foreclosure filings in Delaware just last month alone. We know there are many who are overwhelmed, frightened, and sometimes ashamed to ask for help - so they don’t. Or, they wait too long. Today, Wednesday, March 4, 2009, President Obama has rolled out a new federal affordability and stability program to help more Americans refinance their home loans. While it will not help everyone, it is a good start, and will help when coupled with other federal programs getting underway to help homeowners keep their homes.
The Making Home Affordable program, as it is called, allows responsible homeowners-homeowners who played by the rules-access to historically low mortgage interest rates, while providing incentives for servicers and borrowers to modify mortgages before foreclosure becomes the only option. A successful loan modification or refinancing into lower interest rates can also save hard-working families-even those not facing eminent foreclosure-thousands of dollars a year. Increasing the affordability and availability of both loan modifications and refinancing options will begin to help homeowners achieve the long-term mortgage sustainability they are so desperately seeking right now.
Many thanks,
Emily
Emily W. Cunningham
DE Press Secretary
U.S. Senator Tom Carper (D-Del.)