FHLBank San Francisco, NID Housing Counseling Agency Host Workshop to Counsel Families Facing Home Foreclosures in San Fernando Valley
Rep. Berman, Assemblyman Fuentes were among the Special Guests at the Workshop
PANORAMA CITY, Calif., March 1 /PRNewswire-USNewswire/ -- More than 300 people attended a foreclosure prevention workshop on Saturday, which was hosted by the Federal Home Loan Bank of San Francisco (FHLBank San Francisco), working with the NID Housing Counseling Agency.
Counselors provided 244 individual sessions where local residents were advised on how to avoid possible foreclosures on their homes, as well as receive advice on other housing finance issues. Special guests attending the event included Rep. Howard Berman (CA-28), Assemblyman Felipe Fuentes (39th District) and Assemblyman Bob Blumenfield (40th District).
"The Federal Home Loan Bank of San Francisco wants to help consumers who are confronted with critical housing issues," said Lawrence H. Parks, Senior Vice President, Legislative and External Affairs, FHLBank San Francisco. "There are many families who need counseling on what to do when they fall behind on their mortgages. We are hoping that we can ease the anxiety for some of these families by giving comprehensive advice on how they can avoid foreclosure."
Rep. Berman said that he is working in Washington to enact reforms that protect his constituents from predatory financial practices and help them keep their homes. "I applaud the Federal Home Loan Bank of San Francisco and NID Housing Counseling Agency and thank my fellow elected officials for joining me in supporting this event," he said. "I know my constituents have been hard hit by the economic downturn and received good help today at the workshop."
Among the financial establishments participating were Chase, PNC, Wells Fargo, Bank of America and Freddie Mac.
The workshop was particularly helpful to residents of San Fernando Valley, where foreclosures are running higher than the state average. As of January, foreclosures were occurring at a rate of 1 in 126 housing units, while statewide 1 out of 185 homes were being foreclosed on.
Assemblyman Fuentes said he is pleased to work in partnership with President Obama's "Making Home Affordable" program that is helping local homeowners refinance or otherwise avoid the foreclosure of their homes. "I appreciated the efforts of all segments of our community working together to address this crisis," he said. "I know that housing counseling works and I am proud to help sponsor this event."
The counseling sessions, as well as written materials, were available in Spanish and English to help a diverse group of homeowners.
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.
CONTACT: Kevin Blackburn, +1-415-616-2572, [email protected]
SOURCE Federal Home Loan Bank of San Francisco
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