The Greater Antelope Valley Association of Realtors ® (GAVAR) will host a "Foreclosure Prevention" event on February 9, 2008 from 8:30 a.m.-3 p.m.at the Central Christian Church in Lancaster, 3131 West Avenue J.
Information specialists will help homeowners at risk of losing their homes mitigate or resolve their mortgage challenges. Credit counselors, H.U.D. representatives, lending institutions, legal advisors and Hispanic translators will be on-hand to counsel attendees.
The morning will include general presentations and the afternoon will offer subject specific breakout sessions.
The event will include free sack lunch.
Reminiscent of the foreclosure crisis in the early 1980s and the early 1990s, GAVAR officials noted that economic cycles in real estate are common to the industry, but that this is of little comfort to homeowners poised to lose their home in 2008.
In an effort to be more proactive, the association has organized this "Foreclosure Prevention" event with the intent of providing homeowners with relevant information and counsel that may head-off an otherwise 'on track' foreclosure.
The event is designed to encourage borrowers to explore the many alternatives they many have to help them stay in their homes.
AP Economics writer
Martin Crutsinger, in referring to the national housing landscape, indicated that the housing weakness has dragged down over-all growth and sent shockwaves through the rest of the economy including the financial sector, which is dealing with billions of dollars in losses in subprime mortgages.
Some analysts are worried that the fallout could become so severe, it will drag the entire country into a recession. Crutsinger noted that a new government report reinforced the view that housing is currently undergoing its worst downturn in more than two decades, with the slump threatening to surpass, in some ways, the severe housing recession in the early 1980s.
Homeowners experiencing difficulty with their mortgages in the Antelope Valley would not be surprised by this news.
Many, now experiencing jarring adjustments to their monthly payments against homes now valued at less then what they paid for it, are facing the potential loss of their home.
The "Foreclosure Prevention" event is specifically designed to assist these homeowners.
To reserve space, call 661-726-9274.