Contact: Rebecca Blanco (209) 577-5368
No. 08-093
March 18, 2008

Foreclosure Prevention Workshop to be Held

Homeowners throughout the Stanislaus County area are invited to participate in a free foreclosure prevention workshop hosted by the state of California, city of Modesto and The Modesto Bee. The free event will be held on Saturday, March 29, from 9 a.m. to 3 p.m., at the Modesto Centre Plaza, 10th and K Streets.

Credit counselors, loan servicers and lenders will be available for assistance and information regarding options available to help keep families in their homes. Credit counselors certified by the U.S. Department of Housing and Urban Development (HUD) will also be available to offer free advice on avoiding foreclosure. There will not be a charge for any services at this event.

"Modesto is pleased to partner with the state of California and The Modesto Bee to offer assistance to homeowners facing foreclosure," said Mayor Jim Ridenour. "It is our hope that this workshop will begin the dialogue necessary to help people remain in their homes."

The following is a list of the lenders and mortgage servicing companies who will be at the workshop to work one-on-one with homeowners (additional lenders may attend):

• Countrywide

• Washington Mutual
• Bank of America
• Wilshire Credit Corp.
• Carrington Mortgage Services
• Wachovia
• IndyMac
• OptionOne
• Litton Loan Servicing
• Wells Fargo
• FannieMae
• California Department of Real Estate
• California Department of Financial Institutions
• U.S. Department of Housing and Urban Development (HUD)

If a family's specific lender is not participating in the workshop, personal counseling will be offered.

Homeowners planning to attend the March 29 workshop should bring their loan documents and all other relevant financial information. Some examples of what homeowners should bring to the workshop include:

• Financial hardship letter - a written explanation of your hardship or reason for being delinquent on your mortgage. Also include a plan to resolve your hardship.

• Loan documents - original mortgage contracts and all recent letters from your lender.
• Income statements - copies of your most recent payroll stubs/income records.
• Bank statements - copies of your account balances and stock portfolio statements.
• Federal income tax return - be sure to include copies of last years W-2 statements.
• Bills and expenses - list monthly expenses, debts and obligations, including utility, medical and credit card bills as well as property taxes and auto loans.
• Assets list - detail what you own (i.e. cars, boats, property, etc.).
• Credit report - if possible, bring a copy of your credit report, be sure to check it for errors.

For more information about the workshop and what to bring with you, call (209) 577-5368.

#####

To contact the City of Modesto Public Information Office, 
call Jessica Smart at (209) 342-4707. Email: jsmart@modestogov.com