A Foreclosure Prevention Event Could Save Hundreds Of Mississippi HomesBy Jeffrey Hess | Published 26 Sep 2012 04:37pm |
Mississippians struggling with their mortgage could find help at a five day event that begins in Jackson today. MPB's Jeffrey Hess reports that hundreds of Mississippi homes are foreclosed on every month.
Work crews tape down lines for hundreds of phones and set up thousands of folding chairs at the Jackson Convention Center for the so called American Dream Event.
The event is being run by the non-profit Neighborhood Assistance Corporation of America.
Spokesman Darren Duarte says they have extensive contacts with banks and can facilitate mortgage modifications and prevent some Mississippians from losing their home.
"We help homeowners whose mortgages are unaffordable, we help make them affordable. We fought the banks on the streets with protests and in courts. Trying to help homeowners get a fair deal. We think Wall-Street helped create this mess some years back and we have been working trying to get them to help fix it," Duarte said.
"It is like you are out in the ocean sinking and you don't have anywhere to go. You have a life raft and that is all you got. You have to take every shot you can and you have to try,"
Henry Rodick drove with his wife from Ocala Florida to meet with foreclosure experts in Jackson to try and save their home.
Rodick's home is worth 120-thousand dollars less than when they bought it near the height of the housing bubble in 2006.
He says they fell behind on their payments because of medical bills and home repairs that strained the retired couple's budget.
'"It is the only hope you have. Because the banks are very unforgiving. It is a business to them. If you don't have the money hit the road. I am not saying they are all like that but for most of them it is business as usual. If you can't pay, you can't stay. It has been tough," Rodick said.
Mississippi has not been hit as hard as other states by the foreclosure crisis with the foreclosure rate, the state usually ranks in the bottom ten of all states for foreclosure rate.
In addition to foreclosure help, first time home buyers can find advice that could prevent them from buying a home they cannot afford.
That's what Rickie Lillien did before she purchased a new home in Pearl.
"I learned that I don't have to be fearful. Because I have always been like 'oh, can I do this'. And I wasn't sure if I could do it or not but now I know I can," Lillien said.
The services at the event are free and NACA representatives will be in Jackson through Monday.
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