FHLBank San Francisco Sponsors Foreclosure Prevention Workshop in Sherman Oaks

SHERMAN OAKS, Calif., Aug 8, 2012 /PRNewswire-USNewswire/ -- More than 120 people attended Foreclosure Prevention and First-Time Homebuyer workshops in Sherman Oaks on Saturday at an event sponsored by the Federal Home Loan Bank of San Francisco (FHLBank San Francisco). Rep. Brad Sherman (CA-27^th) was a special guest at the event.

Ninety-two people received counseling provided by Neighborhood Housing Services of Los Angeles County, the U.S. Department of Housing and Urban Development, and the NID Housing Counseling Agency, and individual assistance from loan officers representing Chase Bank, Wells Fargo, and Bank of America.

"The Foreclosure Prevention Workshop was an opportunity for Valley families facing the risk of foreclosure to seek one-on-one assistance from their lenders and certified housing counselors to help modify their loans," said Rep. Sherman. "I want to thank the Federal Home Loan Bank of San Francisco and all the sponsors for once again hosting this important workshop in the San Fernando Valley."

Lawrence H. Parks, Senior Vice President of Legislative and External Affairs at FHLBank San Francisco, said the workshop gave considerable assistance to homeowners. During the workshop experts explained to families their legal rights, counseled those facing possible foreclosure, provided information on loan modifications, and outlined how to identify fraudulent programs, he noted.

"Many Americans are still facing the threat of foreclosure," Mr. Parks said. "The Federal Home Loan Bank of San Francisco is working with community organizations to provide homeowners with the counseling and information they need to help them keep their homes. It's important that troubled homeowners communicate with their lenders to discuss ways to avoid foreclosures."

Lori Gay, President and CEO of Neighborhood Housing Services of Los Angeles County, said that revitalizing neighborhoods is critical to the well-being of communities. "The foreclosure crisis has made these kinds of events essential to restore the quality of life to neighborhoods that has been weakened by economic hardship," she said.

The event was held on Saturday, August 4, 2012, at the Sherman Oaks East Valley Adult Center, 5560 Van Nuys Blvd, in Sherman Oaks.

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 economic development. The Bank's members are headquartered in Arizona, California, and Nevada and may include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.

Contact:  Kevin Blackburn, 415.616.2572, [email protected]

SOURCE Federal Home Loan Bank of San Francisco