Homeowners struggling with foreclosures and mortgages can learn more about possibly applying for financial relief and other assistance at a free Homeowner Relief and Foreclosure Prevention Workshop scheduled from 7 to 9 p.m. Wednesday at the Kenhill Center in Bowie.
Residents will have a chance to meet with housing counselors, and it is recommended that resident facing foreclosure being relevant documents. If you lost your home to foreclosure, you may be eligible to receive between $1,500 and $2,000.
One of a series, the foreclosure workshops are the result of a settlement state Attorney Douglas F. Gansler reached in February with state agencies, the federal government and the country’s five largest mortgage servicers that will bring cash benefits and other relief to distressed Maryland homeowners.
Benefits include payments ranging up to $2,000 to eligible borrowers who were victims of fraudulent servicing and foreclosing practices by five banks and who were also foreclosed upon between Jan. 1, 2008, and Dec. 31, 2011.
The five banks are Ally/GMAC, Bank of America/Countrywide, Citi, JP Morgan Chase/WAMU and Wells Fargo/Wachovia.
Some borrowers may also qualify for loan modifications, including principal reduction, if they are in default or at risk of defaulting on mortgage payments.
Other homeowners may be able to refinance at lower interest rates if they are staying current with mortgage payments and if their home is worth less than the mortgage loan amount.
The event is sponsored by Gansler, local state legislators, County Council and Bowie City Council members.
The Kenhill Center is located at 2614 Kenhill Drive.
For more information, call 1- 410-576-6956 or visit www.oag.state.md.us/mortgageSettlement.
To find a free housing counselor in your area, call the state Department of Housing and Community Development’s MDHOPE Hotline at 1-877-462-7555 between 8 a.m. and 8 p.m. and leave a message or visit http://mdhope.dhcd.maryland.gov.
For additional foreclosure assistance, visit www.cityofbowie.org/information/foreclosure_resources.asp.