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State to Help Those Facing Foreclosure

Written by ryan. Posted in Uncategorized

Published on August 24, 2010 with No Comments

In effort to help Hoosier families avoid foreclosure, Lt. Gov. Skillman today announced a series of free borrower outreach events to be held at National Guard Armories across the state on Sept. 1. Cities where events will be held include Indianapolis, Hammond, South Bend, Fort Wayne, Columbus, Evansville, Terre Haute and Richmond.

The events, which will run from 3-8 p.m., are being sponsored by the Indiana Foreclosure Prevention Network (IFPN). Troubled Hoosier homeowners will be able to attend a workshop and meet with a trained foreclosure prevention counselor, who will help the borrower navigate the process and prepare the documents the lender needs to work on an alternative to foreclosure. “The prospect of foreclosure is frightening for anyone, and the stacks of paperwork to wade through can be overwhelming,” Lt. Gov. Skillman said. “Our Foreclosure Prevention Network has helped guide thousands of Hoosiers through the process, and this is yet another opportunity to find another option.” Lt. Gov. Skillman formed IFPN in November 2007 to combat Indiana’s high foreclosure rates. The partnership between state government, lenders and community organizations has worked with over 75,000 Hoosiers in an effort to avoid foreclosure. The national recession has caused the foreclosure rate in the U.S. to jump more than 125 percent. In large part due to the work of IFPN, the housing crisis has not caused as sharp of an increase in Indiana. Indiana’s rate (4.51 percent) is now lower than the national average (4.63 percent). Last year, IFPN hosted a statewide phone-a-thon that led to a drop of 6,000 foreclosures in the 3rd quarter of 2009. That success sparked talk of a series of statewide borrower outreach events, which could be even more beneficial. “Using this face-to-face method will give us a better opportunity to follow-up and make sure the people we counsel are able to find a work-out with their lender,” said Sherry Seiwert, executive director of the Indiana Housing and Community Development Authority (IHCDA). The borrower outreach events are being done at no additional cost to taxpayers. In addition to the Indiana National Guard offering their facilities, IFPN has received very generous donations from the Indiana Banker’s Association, the Indiana Association of Realtors, AARP, Fifth-Third Bank, J.P. Morgan Chase, and U.S. Bank. Additionally, AT&T is donating aircards to ensure internet connectivity, and Sharp Business Systems is providing copy machines to complete packets of information for borrowers. For more information, call (317) 232-5674 or visit www.in.gov/lg.

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