This evening, Congressman Patrick McHenry hosted his third Homeownership Promotion and Foreclosure Prevention Seminar at the Highland Recreation Center in Hickory.
"With a downturn in the housing market, it is critical that the families of Western North Carolina know what options are available to them. For others, who are considering purchasing a home, we want them to make the most informed decisions possible," McHenry stated.
The seminar began with a roundtable discussion of housing issues, featuring Congressman McHenry and representatives from partnering organizations, including:
HOPE NOW Alliance – An organization of counselors, servicers, investors, and other mortgage market participants dedicated to helping homeowners cope with housing costs.
NeighborWorks America – A national nonprofit organization that provides financial support, technical assistance, and training for community-based revitalization efforts.
U.S. Department of Housing and Urban Development (HUD) – A federal agency devoted to increasing homeownership, supporting community development, and increasing access to affordable housing.
Legal Aid of North Carolina – A state nonprofit organization that provides legal advice to homeowners.
U.S. Department of Agriculture (USDA) Rural Development – A federal agency committed to helping improve the quality of life in rural America, including assisting citizens of rural areas with housing issues.
Olive Hill Community Economic Development Corporation – A local organization focused on improving the economic conditions in our local communities.
Attendees then visited booths set up by these participating organizations to receive personal, private advice on their particular housing concerns.
The North Carolina Administrative Office of the Courts reports that more than 45,000 small businesses and households faced foreclosure in North Carolina last year, including nearly 5,190 in the ten counties comprising the Tenth Congressional District.
Congressman Patrick McHenry's Mortgage Disclosure Simplification Act, which requires lending institutions to provide borrowers with a simple, one-page summary of their mortgage obligations, passed the House of Representatives on November 15, 2007.
"Borrowers are entitled to a full and simple disclosure of their mortgage obligations. My plan empowers consumers by bringing transparency to the process. As a former realtor, I know firsthand how confusing the legal jargon can be on home loans, and this will help people make sound financial decisions for their families," McHenry stated at the time.
Earlier this year, Congressman McHenry hosted housing seminars in Lenoir and Shelby.
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