Mortgage Matters!
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ras...@dcrac.org
Feb 16, 2009, 2:16:43 PM2/16/09
to Project IMPACT, ras...@dcrac.org
Contact: Rashmi Rangan
Telephone: 302.824.5219
Fax: 302.654.5046
Email: ras...@dcrac.org
Mortgage Matters! prevents foreclosures by bringing homeowners and
their lenders together
About the event:
Howard High School of Technology
February 18, 2009
3:00pm-8:00pm
401 E. 12th Street
Wilmington, DE 19801
WILMINGTON, Del., February 16, 2009 – At the end of the third quarter
in 2008, 3.67% of the mortgages in Delaware were seriously
delinquent. The Delaware Community Reinvestment Action Council, Inc.,
(DCRAC) is hosting Mortgage Matters!, a foreclosure prevention
evening, on February 18th, with representatives from GMAC, Wells
Fargo, American Home Mortgage Servicing, Inc. (formerly Option One),
and Bank of America.
“DCRAC invites homeowners who have a mortgage with these lenders to
attempt a one-on-one resolution to their issues,” says Rashmi Rangan,
executive director.
For those homeowners whose lenders are not joining DCRAC on February
18, 2009, DCRAC’s team of volunteer attorneys, housing counselors, and
others with the relevant expertise will be on hand to meet with
homeowners one-on-one. DCRAC’s expectations of the lenders are that
they will work with the homeowner in good faith.
Last year, DCRAC held a similar event. “Not only did some lenders
modify loans on the spot, many homeowners who were frustrated about no
follow through were able to walk away with a contact at their lender,”
says Domenic Pedante, Chairperson of DCRAC. “The success demands that
we continue bringing the homeowner community and their lenders
together.”
Over the course of the event, DCRAC will offer informational seminars
so homeowners can understand all of their options, learn to evaluate
their own financial status so that they can make an initial assessment
of their options, and walk away with realistic expectations for
themselves. “I have seen the DCRAC team in action. Our staff and
volunteers serve the informational and emotional needs of our clients
with a professionalism that gives me pride to be associated with this
organization. Everything we do furthers our mission of equal access
to credit and capital,” says Pedante.
About DCRAC: The Delaware Community Reinvestment Action Council is a
tax exempt, charitable nonprofit dedicated to ensuring equitable
treatment and equal access to credit and capital for the underserved
populations and communities throughout Delaware through advocacy,
education, legislation, and outreach. Founded in 1987, DCRAC was
awarded the Standards for Excellence Seal of Excellence in 2007 after
completing a rigorous voluntary review that is a visible symbol of the
most well managed, responsibly governed organizations.
Telephone: 302.824.5219
Fax: 302.654.5046
Email: ras...@dcrac.org
Mortgage Matters! prevents foreclosures by bringing homeowners and
their lenders together
About the event:
Howard High School of Technology
February 18, 2009
3:00pm-8:00pm
401 E. 12th Street
Wilmington, DE 19801
WILMINGTON, Del., February 16, 2009 – At the end of the third quarter
in 2008, 3.67% of the mortgages in Delaware were seriously
delinquent. The Delaware Community Reinvestment Action Council, Inc.,
(DCRAC) is hosting Mortgage Matters!, a foreclosure prevention
evening, on February 18th, with representatives from GMAC, Wells
Fargo, American Home Mortgage Servicing, Inc. (formerly Option One),
and Bank of America.
“DCRAC invites homeowners who have a mortgage with these lenders to
attempt a one-on-one resolution to their issues,” says Rashmi Rangan,
executive director.
For those homeowners whose lenders are not joining DCRAC on February
18, 2009, DCRAC’s team of volunteer attorneys, housing counselors, and
others with the relevant expertise will be on hand to meet with
homeowners one-on-one. DCRAC’s expectations of the lenders are that
they will work with the homeowner in good faith.
Last year, DCRAC held a similar event. “Not only did some lenders
modify loans on the spot, many homeowners who were frustrated about no
follow through were able to walk away with a contact at their lender,”
says Domenic Pedante, Chairperson of DCRAC. “The success demands that
we continue bringing the homeowner community and their lenders
together.”
Over the course of the event, DCRAC will offer informational seminars
so homeowners can understand all of their options, learn to evaluate
their own financial status so that they can make an initial assessment
of their options, and walk away with realistic expectations for
themselves. “I have seen the DCRAC team in action. Our staff and
volunteers serve the informational and emotional needs of our clients
with a professionalism that gives me pride to be associated with this
organization. Everything we do furthers our mission of equal access
to credit and capital,” says Pedante.
About DCRAC: The Delaware Community Reinvestment Action Council is a
tax exempt, charitable nonprofit dedicated to ensuring equitable
treatment and equal access to credit and capital for the underserved
populations and communities throughout Delaware through advocacy,
education, legislation, and outreach. Founded in 1987, DCRAC was
awarded the Standards for Excellence Seal of Excellence in 2007 after
completing a rigorous voluntary review that is a visible symbol of the
most well managed, responsibly governed organizations.
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