DEL.ICIO.USHomeowners facing foreclosure turn out for help
The Atlanta Journal-Constitution
Sunday, February 08, 2009
On Saturday morning, Marcus Parnel walked a group of 20 people through a nightmare they are already living: how to fend off or survive home foreclosure.
In the session at the Midtown office of HomeFree-USA, he motioned toward a screen displaying key players in any foreclosure.
CURTIS COMPTON / ccompton@ajc.com
Robert Hillsman of Stone Mountain sought help because he’s six months behind on his mortgage.
CURTIS COMPTON / ccompton@ajc.com
Cynthia McClure, with 7-month-old grandson London Goss in tow, fills out a form during HomeFree-USA’s Foreclosure Intervention Day, a program helping those facing foreclosure.
“This is the mortgage investor,” he said. “Y’all remember who he is?”
“The investor!” they chimed.
“And he’s trying to make what?” asked Parnel.
“Money!” the group replied in unison.
If the investor has the choice of foreclosing on a home that may be worth less than the mortgage owed by you, Parnel said, he doesn’t want to take your home and try to sell it because he’d lose money. He’d probably be willing to lower your house payment.
“Because,” said Parnel, “we all know that some money is better than what?”
“None!” came the reply.
HomeFree-USA is a national nonprofit that, for a $10 fee — the cost of a necessary credit report to get the process started — works as an intermediary between mortgage lenders and homeowners trying to work their way out of foreclosure or prevent it.
The group has stepped up its outreach in recent months, as more people face foreclosure, through sessions like Saturday’s. One man in the audience, Robert Hillsman, makes $45,000 a year as a credit collections analyst and knows his way around the credit and mortgage system. But, he said, a divorce and $800 a month for child support have him in a bind.
“I’m six months behind on my house payments” of $1,860, he said. He hopes HomeFree-USA will help him negotiate a better payment and enable him to keep his Stone Mountain home.
About 200 people were expected to attend a series of the hourlong sessions Saturday, said Simone Griffin, manager of partner relations for the organization. She said the group has been “overwhelmed” for requests in recent months.
The group’s Web site, homefreeusa.org, offers tips to engage the group’s assistance. People who signed up Saturday would hear back from the organization by Feb. 18, Parnel told the group.
The group advises that, once a Homefree-USA assistant has become involved in avoiding foreclosure, the homeowner can relax because nothing will happen for about two months.
Parnel told them that even as a liaison, his patience is taxed.
“Yesterday I was on the phone with my favorite, Wachovia — I’m going to call them out — waiting an hour and three minutes just for somebody to come to the phone.”
