Posts (RSS)Free REO Property Listing Rescue Workshop in Maryland
A free foreclosure prevention workshop is being offered to homeowners who want to save their home from REO property listing.
The free workshop features representatives from various organizations, including The Pro Bono Resource Center of Maryland, Maryland Department of Housing and Community Development, Civil Justice Inc. and Catholic Charities of the Archdiocese of Washington.
The workshop will provide homeowners with information and legal advice about their foreclosure problem and where to seek help to save their houses from REO property listing.
Director of social concerns at St. Peter Anne Marie Prangley explained that the church offered to host the event to help the state disseminate the information about various available programs offered for homeowners to help them handle their foreclosure-related problems.
According to Prangley, foreclosures may not be a big problem in Maryland, particularly in Olney county, but still, she had received calls from homeowners who were concerned about the issue. Maryland offers several programs that could help distressed homeowners facing the threat of REO property listing, including the availability of about 800 pro bono lawyers who are trained to handle housing options and foreclosure cases.
Prangley said that many distressed homeowners are hesitant in coming out about their problem, with some refusing to acknowledge the fact that they are on the brink of losing their distressed properties to foreclosures. She pointed out that coming forward and acknowledging the problem are the only way that troubled homeowners could get and receive help.
Workshop participants are advised to bring with them all documents pertaining to their former and current mortgages, including settlement papers, loan applications, notices of foreclosures, lender statements, threats of foreclosure and a copy or copies of their monthly home budget.
The Olney area, compared with other Maryland areas such as Germantown, Silver Spring and Gaithersburg, has not been severely affected by foreclosure. Out of the 78 resale houses on the REO properties listing, 18 are either bank owned homes or short sales.
Meanwhile, out of the 54 properties under contract in Olney, about 22 are either bank owned properties or short sales.
The free workshop to help distressed homeowners save their homes from REO property listing will be held at St. Peters Catholic Church on June 27.