Seek Guidance from Lawrence Community works to avoid foreclosures
In the city of Lawrence high rate of foreclosures are in the headlines and are in the center of discussion of Hispanic leaders at the County office in Washington, D.C.
La Raza is the oldest, popular and biggest Hispanic organization in the U.S. And chief officer and President Janet Murguia of this national council visited Lawrence to support the program of foreclosure avoidance, property maintenance strategies and emergency planning agenda prepared by the Creditsmart of Freddie Mac. FreddieMac is a company owned by a stockholder and is in the work of supporting rental homes and property ownership. The company sent its qualified representatives to the meeting.
FreddieMac has planned a curriculum known as CreditSmart, which teaches financial education. This curriculum features 11 different components about establishing good credit and maintaining it for life time, how important it is to have a good credit , how to avoid catches that lead to bad credit and how to manage your money wisely plus to manage banking services. This year they added an extra but much needed component at this time of breaking mortgages , about how to preserve homeownership and avoid foreclosure.
“We’re in an emergency”, Murguia explains the situation. “You need to know that at this time of crisis, we must carry on to find solutions to avoid and stop foreclosures. Because foreclosure is the hindrance that takes the American dream away.”
In the last two months, 25 foreclosures are filed in Lawrence, followed by 21 in Haverhill and 7 in Methuen. As per the records of ForeclosuresMass.com, foreclosure rate is climbed to 165 percent in Lawrence for the year ending on July 31. In county of Essex, foreclosures is swelled to 90 percent, compare to 76 percent increase across the nation.
Murguia explains that financial education is important because it makes property owners aware about every aspects of ownership. The curriculum teaches almost everything about foreclosure avoiding, financial planning and management and maintenance.
There are many tools available to help borrowers when they deal with predatory lending and sub prime mortgage.
Lawrence Community Works offers many services to help first time buyers and CreditSmart is one of that services.
Annery Buten is a director of the family asset building program at this CommunityWorks. Her views about this financial curriculum are positive and she adds, “the program is really effective to manage your money and account. The course is very popular and people are benefitted from it.”
Buten also said, “We are interested that people live their life in their own homes and be able to send their children for higher educations.”
June Black is agreed with these words, who is an aide to Congresswoman Niki Tsongas.
“it is more about quality of life, than just maintaining homes in neighborhoods”, Black explains. “For years long, Lawrence has developed quality lives and we need that people enjoy their family life without stress and in a good neighborhood.
Lawrence Community Works helps people and always ready to answer their calls on hot line to avoid foreclosure, 1 800 995 HOPE.
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