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Free workshops help troubled homeowners
By Julie Lynem
SEMINAR IN SLO TO OFFER ADVICE
The Commission on the Status of Women is hosting a seminar to help people who may be going through tough financial times.
The event, “Feminine Face of Foreclosure and Bankruptcy,’’ will be from 1:30 to 4:30 p. m. May 17, at the San Luis Obispo City/County Library, 995 Palm St., San Luis Obispo. Topics include challenges that women and seniors face in the economic downturn.
For more information, contact Jan Potter at 549-9635.
The Commission on the Status of Women is hosting a seminar to help people who may be going through tough financial times.
The event, “Feminine Face of Foreclosure and Bankruptcy,’’ will be from 1:30 to 4:30 p. m. May 17, at the San Luis Obispo City/County Library, 995 Palm St., San Luis Obispo. Topics include challenges that women and seniors face in the economic downturn.
For more information, contact Jan Potter at 549-9635.
Homeowners who may be struggling with foreclosure do not need to pay to get help. The Consumer Credit Counseling Services is a nonprofit agency that offers free workshops for people delinquent on their payments.
As many homeowners seek solutions to their financial problems, they may be vulnerable to scams that promise a way out, said Patty Guertler, public relations and education manager for the organization serving Santa Clara through Ventura counties. In the first quarter of this year, the agency has seen a 45 percent increase in the number of consumers in San Luis Obispo County seeking help with foreclosure prevention.
“The consumer is desperate,’’ she said. “They may be at the end of the process and don’t know where to go or whom to trust.”
While not all of these offers are illegitimate, homeowners should beware of people who want to refinance or buy their home.
“Some of the most common scams occurring are known as ‘phantom help,’” Guertler said. “The ‘rescuer’ charges high fees for work the homeowner could do themselves or charges for strong representation that never materializes. A bailout would include various schemes where homeowners transfer their property out of their name and into a land trust. By doing this, the homeowner is not released of their loan obligation.”
The homeowner will eventually foreclose because the agency will not pay the past due amounts, she noted.
Homeowners should use caution when approached and check with the Better Business Bureau in their community to make sure the business is legitimate, she noted. Consumers should contact only agencies approved by the federal Department of Housing and Urban Development. HUD approval means the agency must adhere to strict guidelines, she said.
“Get the information from the agency before you sign anything,’’ Guertler said. “Ask as many questions as possible. If there’s a fee up front to help you work with the lenders, then it’s not an agency you want to deal with.”
For more information, call 1-800-540-2227 or visit www.gotdebt.org .
