Foreclosure Workshops in Arizona

December 16th, 2008 | Tags: Foreclosed Houses

In an effort to help troubled borrowers a workshop scheduled for Saturday (13th December) will address problems relating to foreclosures and how it can be avoided. The venue of the meeting is Gilbert Civic Center.

This workshop is an outcome of the efforts being made across the Valley by Leadership Centre and Arizona Foreclosure Prevention Task Force. Its aim is to educate the families about how to budget and spend according to priorities so that houses that are homes are not lost to foreclosures. The residents in the neighbourhood will also be taught how best they can maintain the value of their properties in the middle of the prevailing blight – the surrounding vacant foreclosed houses.

Several speakers will address the gathering representing Don’t Borrow Trouble Campaign and Arizona Saves. The prime target is to assist people before it becomes too late to do so, commented Cheri Horbacz on behalf of the task force. It is planning another workshop on 10th January 2009 at Mesa.

Similar types of workshops in other parts of the Valley have attracted gatherings of about 500 people. In Glendale 1,800 participants attended one such meet. In workshops the people are instructed how to open communication lines with lenders regarding modification of loans. This is the prime issue bothering more than half of those who attend such workshops, said Patricia Garcia-Duarte, the chairperson of the task force. She added, “We want to make sure people feel comfortable. The bank is calling, but they may have an option.”

The foreclosure victims will also be educated upon learning to save. Ultimately this might lead to their saving their houses even in the face of foreclosures. One class will give instructions about 90-day-crisis-budgeting, informed Jennifer Quillin of Arizona Saves. She said that many of the banks would want upfront money while talking about loan modification. Even if no agreement is agreed upon the borrowers must get used to the saving habit for days ahead. She explained, “If they are not able to save their home, they’ll need that money to move out. It’s not a ‘no bill holiday’ when you can’t make a mortgage payment.

Issues relating to tax ramifications, legal procedural matters as well as trustee sales and the personal liabilities will also be discussed. The organizers are optimistic that after attending the workshops the participants will feel enthused and energized to take the foreclosure bull by the horns.