In Boston, Residents Seek Face-to-Face Advice to Avoid Foreclosure [View All]

[ShockediSay]

Source: NYTimes

Carol Anderson has gone the entire winter without heat or hot water in her home here, because the payments on her adjustable rate mortgage have ballooned to $5,000 a month and she cannot afford paying a gas bill....

Desperate for help, Ms. Anderson attended a workshop on Saturday organized by Mayor Thomas M. Menino of Boston intended to help the city’s homeowners avoid foreclosure. Representatives from five mortgage companies met with clients to try to restructure loans. The workshop also offered classes on homeownership, credit ratings and other financial topics, in addition to providing residents with access to foreclosure prevention counselors....

Sophia Mitte of Mattapan said she spent seven months trying to modify her Wells Fargo loan, only to be notified by the company that her home was in foreclosure and a sale date was planned for April. Ms. Mitte said her son had to drop out of college and join the Marines because her family was no longer able to afford his tuition payments because of their mortgage. She also pays $300 a month for experimental cancer drugs.



Read more: http://www.nytimes.com/2008/03/30/us/30boston.html

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Yet another way the NeoCons have found to boost enlistments for Iraq

{to be fair, the forclosing bank indicated some willingess to help find some
way for Ms Mitte to keep her home ... read the entire article]