FHLB San Francisco Holds Foreclosure Prevention Workshop in San Bernardino
SAN BERNARDINO, CA—Hosted by the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and NID Housing Counseling Agency, a foreclosure prevention workshop today provided information and financial counseling to residents faced with losing their homes or buying their first residences. According to RealtyTrac, a foreclosure listing service, foreclosure filings in San Bernardino County are declining, but the Inland region still has the fifth-highest rate of filings in the nation.
Rep. Joe Baca (D-Ca.) was delayed in Washington and could not attend as scheduled. The congressman sent a video message, expressing his concern for troubled homeowners.
“The foreclosure crisis hit the Inland Empire hard. This workshop offered valuable assistance to many of those facing foreclosures. We hope that as families learn more about the foreclosure process and the willingness of lenders to work with them, many families will be able to keep their homes,” said Rep. Baca.
The biggest mistake homeowners make is not communicating with their lending institution as soon as they recognize their inability to make their mortgage payments. Attendees at the workshop had the opportunity to talk with lenders and learned about available resources. Among the institutions participating in the workshop were CHASE, Wells Fargo, FHLBank San Francisco, NID Housing Counseling Agency, Housing Opportunity Collaborative of Inland Empire, and NeighborWorks America.
FHLBank San Francisco has hosted 12 foreclosure prevention workshops in the past two years, as it seeks to help homeowners during the current housing crisis.
“Our goal is to provide families with the information that they need to keep their homes,” said Lawrence H. Parks, Senior Vice President of External Affairs for FHLBank San Francisco. “Oftentimes, homeowners are not aware of the options available to them. These workshops give them the opportunity to learn what options are best for their families.”
The Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.
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