Coping with the economic crisis
There are many resources for people facing foreclosure and other economic problems, according to a story in yesterday's Daily News.
There is a free homeownership and foreclosure prevention fair on Saturday from 10 a.m. to 2 p.m. at the Braude Constituent Service Center, 6262 Van Nuys Blvd. in Van Nuys.
"Angelenos will be able to get personal help from nonprofit housing counselors, learn about refinancing opportunities and first-time homebuyer programs and meet with lenders about working out monthly payments or the possibility of switching from an adjustable-rate to a fixed-rate mortgage," the story says. Pre-register by calling 818-892-7600.
"The L.A. Foreclosure Response Network brings foreclosure prevention resources to six WorkSource Centers near communities that have been hardest hit by the foreclosure crisis.
"The participating WorkSource Centers in the Valley are Metro North WorkSource Center; 342 San Fernando Road, 323-539-2000, www.goodwillsocal.org; Van Nuys-
North Sherman Oaks, 15400 Sherman Way, Suite 140, 818-781-2522, www.worksourcecalifornia.com; Sun Valley WorkSource Center, 9024 Laurel Canyon Blvd., 818-504-0334, www.wscalnetwork.org.
"Residents who are facing homelessness should call the L.A. County hotline 211. For mental health issues, call the county mental health referral line at 800-854-7771, or the Suicide Prevention Crisis Line at 877-727-4747."
Please share this information with anyone who may need it.
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About The Bargain Hunter
Daily News staff writer Julia Scott loves to find bargains on everything from groceries to Gucci. Her tips will help keep your hard earned cash where it belongs - in your pocket.
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We were in foreclosure, lenders would not help, only were verbally abusive, accused us of mortgage fraud, lying, hiding assets, even lied to us and told us they could attach my husbands 401K of only $42,000. I just kept calling every number or email of anyone I had ever spoken to at both lenders. Two weeks prior to foreclosure sale the lender of the first loan contacted us, we were offered: 2% interest only for 2 years, 3% interest only for 3rd and 4th years, 4.5% principle and interest for the 5th year, then loan goes to 6.375% principle and Interest for 6th year to 30th year. (Second trust deed, would not budge, and stated that we had a recourse loan and it would follow us to our death, and our family beyond! It is interest only and we have paid on it for 6 years.) We live on my husbands state pension, and will be eligible next year for his social security of $1000. per month. PLEASE DO NOT FALL FOR ALL THE MAIL YOU GET FROM: private parties, attorneys, realtors, etc, offering to help you out for a fee! This may not work for everyone, and we will be in the same boat in four years, if the prices do not come up, enough to sell and pay the lenders off. But, we are paying to stay in our own home and it is less than two bedroom apartments and condos rent for in our area. Never give up, stay in contact with lenders, no matter how hard it becomes, you can do this yourself, just hang in there. Good luck to all, if this helps even one person stay in their home, we will be happy. Bless eveyone in this mess!