U.S. Department of Housing and Urban Development approved counselors, 13 mortgage lenders, and Fannie Mae and Freddie Mac provided one-on-one services to 765 homeowners at the Saving Homes, Foreclosure Prevention Day sponsored by the Obama Administration and Congresswoman Eleanor Holmes Norton (D-DC).
Norton said, "It was clear that Saturday's Foreclosure Prevention Day served a crying need in this town. With the loan modification rate in D.C. at less than two percent, we have begun to make sure that the Making Homes Affordable program lives up to its promise by helping hundreds of people receive loan adjustments."
Paula McMillan, a Ward 5 resident, said she saw Norton's public service announcement (PSA) on TV about the free event after receiving calls from two different people saying they could help modify her home loan, one for a fee of $2,500 and the other for $3,000. After watching Norton's PSA, McMillan called her bank to put a stop payment on her checks to the callers.
Norton said, "Such services are free of charge through NeighborWorks and Hope Now. These callers may have been scam artist. Homeowners should call my office when they receive such phone calls, and should never pay for loan modifications."
Ashley Jordan, a Ward 8 resident, previously received a loan modification, but because of continued financial hardship, she desired a second modification. Within 15 minutes, she received another loan adjustment at Foreclosure Prevention Day.
"I will continue to partner with Treasury to get modifications for residents and to alert vigilance for people who want them to pay for free loan modification."
For foreclosure info, and how to possibly save your home, click here.