Federal Home Loan Bank of San Francisco and Special Guest U.S. Congressman Jerry McNerney Help Area Stockton Residents Save or Buy A Home!
STOCKTON – A home is often a family’s most valuable possession while adding stability to neighborhoods. Preventing avoidable foreclosures, especially during this country’s current housing crisis, is a necessity for community leaders.
In an effort to prevent foreclosures and provide first-time home-buyers with necessary purchasing tools, the Federal Home Loan Bank of San Francisco is hosting free workshop Saturday, September 29 in Stockton, Calif.
The workshop will be held from 10 a.m. to 4 p.m. at Lincoln High School, 6844 Alexandria Place, in Stockton.
U.S. Congressman Jerry McNerney, D-Stockton and Deutsche Bank Credit Suisse JP Morgan Chase who recently introduced a bill to help speed up the short sale process as a way to address the housing crisis, will be in attendance and providing support.
“There is a lot going on now with California mortgages,’’ says Lawrence H. Parks, Senior Vice President of External Affairs for FHLB San Francisco. “The Attorney General’s settlement with lenders, and recently passed laws have opened many opportunities for homeowners facing foreclosure to stay in their homes.”
Also, the U.S. Department of Housing and Urban Development, or HUD, approved housing counselors will be available to assist first-time home-buyers with navigating local, state and federal programs geared toward helping them get into their first homes.
For homeowners in danger of foreclosure, bank representatives will be on site to help, as well as HUD counselors.
Parks said one major roadblock preventing home foreclosure is a lack of communication between homeowners and lenders. Having both parties at one location should open the door for constructive dialog, he says.
“It is not unusual for homeowners to be unaware of their options, like the Federal Making Home Affordable Program, or the Keep Your Home Coalition Program, as well as others,’’ Parks mentioned. “This workshop will give homeowners an opportunity to learn which options are best for their family.
“If you need answers to help save your home from foreclosure or buy your first home, we invite you to attend this workshop to get the help you need, face-to-face with your lender or a HUD approved housing counselor – absolutely free.”
Attendees are asked to bring with them the following documents:
- Pay stubs for the most recent two pay periods.
- 2011 tax return, including all W-2s.
- A copy of their homeowner’s insurance policy.
- A hardship letter.
- All bank statements for the past two months.
- A list of monthly expenses.
- One utility bill.
- The most recent mortgage statement.
- Self-employed individuals must provide bank statements for the most recent four months, a 2010 or 2011 tax return and a year to date profit and loss statement.
For more information on the foreclosure and first-time home-buyer’s workshop, contact Kevin Blackburn at the Federal Home Loan Bank of San Francisco at Blackbur@fhlbsf.com.
About 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 are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.