Congressman Holds Annual Avoiding Foreclosure Seminar

BALTIMORE (WJZ) — Avoiding foreclosure and the scams that prey on those in jeopardy of losing their home was the goal of a seminar Saturday for hundreds of Marylanders. 

Andrea Fujii has more.

This was the fifth foreclosure prevention seminar hosted by Representative Elijah Cummings and once again, it was packed.

“Protect this house.  That needs to be their number one priority and that’s what this is all about,” Cummings said.

Fraud is another danger that threatens to take people’s homes away.  That almost happened to Hattie Peartree, who was scammed by a company promising to lower her mortgage rate.

“He could get me a loan as low as 4 percent, which would reduce my payment down as low as $500,” Peartree said.

But she had to pay $2,000 upfront, which made her late on her mortgage.

The Federal Trade Commission warns people to beware of companies requiring a fee before they do anything or if they promise to stop the foreclosure process.  Also, beware of companies not approved by the Department of Housing and Urban Development.

Nearly, 1,000 homeowners are expected to be helped at this workshop.  They’ll either discuss options with their lenders or ask experts what to do next.

“I’m just hoping that they can fix me,” Peartree said.

In November, nearly 1,400 Marylanders filed for foreclosure.  After attending one of these seminars, organizers say nearly 70 percent of them are able to stay in their homes.

“People are out of work, people can’t make their mortgage payment.  It’s serious,” said Kenneth Rogers.

“The bottom line is, I want to stay in my home,” Peartree said.

Cummings says they may schedule another seminar next year.

To learn more about how to avoid mortgage scams and foreclosure, click here or here.

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  • Beth

    I have a friend who is donig a short sale, and the relastate company delegted to tell him that he will have to claim the difference the second mortgage company will not be getting. which means they are sending him a 1099???????/ how can that be right? he is doing all he can not to foreclose, or go bankrupt and he is going to have to claim 100,000 as income that he isn’t getting and in fact no one is getting? How can this be legal. how can the goverment expect taxes on something that is just on paper!!!!!!!!!!!! and How can the relastate people act like they never heard of this!

  • TJN

    I would say that the ontime payers and new buyers would be paying back that 100,000 how fair ie that?

  • Lastest Home Mortgage News

    […] Congressman Holds Annual Avoiding Foreclosure Seminar Avoiding foreclosure as well as a scams which chase on those in danger of losing their home was a idea of a convention Saturday for hundreds of Marylanders. Read some-more on CBS thirteen Baltimore […]

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