Foreclosure Workshops Offer Aid to Homeowners

Distressed homeowners seeking to avoid foreclosure may have more help available than they realize.

Foreclosure workshops providing consumer assistance are frequently available in many states, particularly those with high rates of endangered homeowners. The workshops are typically free of charge and are offered by a variety of community-based organizations, many of them affiliated with the Department of Housing and Urban Development(HUD) -led HOPE NOW alliance.

Groups conducting or participating in workshops include nonprofit consumer counseling agencies; state, county and local governments; employee unions, churches and other charities and occasionally members of Congress. Lenders are also a frequent participant, as it gives them an opportunity to work directly with customers to head off possible loan defaults.

A list of such workshops is provided on the web site of Freddie Mac, the government-affiliated megalender, with links to upcoming events in more than 20 states. The list, available here, is updated weekly. Some workshops feature other financial assistance as well, such as advice on how to purchase a home or deal with a job loss or credit card debt.

Perhaps not surprisingly, California lists the most events, with upcoming workshops in 16 communities around the state. Michigan, Florida and Texas list frequent upcoming events as well.

Although the need for such events has been heightened during the current economic downturn, credit counseling groups have been conducting such events for years. Freddie Mac began putting the online calendar together three years ago as a consumer resource, originally posting it on the web site of the Mortgage Bankers Association before moving it to their own web site more recently.

To protect consumers against possible frauds, the list is typically limited to events conducted by HUD-approved nonprofits, government organizations or well-known private firms such as major lenders.