Avoid foreclosure

The following press release was received from the Unitarian Universalist Congregation of Woodstock about a program that is open to the public. You do not have to be a member of this church, or of any church, to attend this program.

For Immediate Release
September 27, 2010
Press Contact: Lisa Jacobsen, 630 788-2819

Program to With Help to Avoid Foreclosure Comes to Woodstock

"Woodstock--As part of the National Save the Dream Campaign, the Unitarian Universalist Congregation of Woodstock (UUCW) will host representatives from the National Assistance Corporation of America (NACA) to provide help to its parishioners, neighbors and communities in restructuring their mortgages to affordable rates. The HomeSave program will be held at the Church, 221 Dean Street on Saturday, October 9 at 2 p.m.

"The vast majority of homeowners who go through the NACA program get their mortgages reduced below 5%. For thousands of at-risk homeowners, NACA has permanently reduced their payments to achieve affordable mortgage payments based on their current budget without additional closing costs, fees, or adding time onto the length of their existing mortgage.

"NACA is a national non-profit HUD-certified counseling organization providing the most effective solution for at-risk homeowners. NACA has negotiated mortgage restructure with lenders and debt servicers around the country to reduce the interest rate and/or mortgage balance to achieve an affordable payment.

"For the first five months of 2010, there were close to 300 families in Woodstock facing imminent foreclosure and Crystal Lake and Lake in the Hills are in worse shape. Being unable to make your monthly mortgage payment is not something folks talk about; there’s so much shame and fear involved that it’s difficult to share. Mortgage modification through the bank involves large up-fronts costs and often future “adjustable” rates; refinancing in upside-down situations is virtually impossible for most and includes more closing costs, fees, and commissions put on top of an already untenable mortgage. Short sales end up taking care of real estate agents and lawyers, but the real winner is the IRS a few years down the road.

"The HomeSave workshop program is free and open to the public, but space is limited and pre-registration is required. Home owners-occupants with no other properties who are dealing with illness and increased medical costs, going through a divorce, or loss of additional income are eligible.

"To register for the Woodstock Workshop, call: 1-888-302-NACA or visit www.NACA.com."