More help for those facing foreclosure

An advice center, a joint venture of the Urban League and ACORN, opens today in Minneapolis to help homeowners.

By TERRY COLLINS, Star Tribune

Last update: January 4, 2008 - 10:44 PM

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WHERE TO LEARN

What: The Sustainable Homeownership and Anti-Foreclosure Response Center.

When: 10 a.m. to noon Saturdays, starting today, and from 6 to 8 p.m. Tuesdays.

Where: Urban League,

2100 Plymouth Av. N.

Call 612-827-9299 to schedule an appointment. Bring proof of homeownership and mortgage bills.

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With the home foreclosure crisis pressing so many families, the Minneapolis Urban League and ACORN have joined forces to help homeowners.

Starting today, homeowners can learn how to save their homes from foreclosure at the groups' Sustainable Homeownership and Anti-Foreclosure Response Center (SHARC) at the Urban League. As of October, more than 2,300 homes were foreclosed in Minneapolis, mostly on the North Side.

David Oguamanam, a senior director at the Urban League and Alexa Milton, a regional director at ACORN, explained their objective.

Q Why now?

Oguamanam We each have counseling programs and felt it was necessary to tackle this together to make it more convenient and accessible. The [foreclosures] keep climbing. Our hope is being able to address the issue much earlier than days before the notice is posted and the home is up for auction.

Q Why do some homeowners delay seeking assistance?

Milton Sometimes lack of knowledge, lack of money due to job loss or unforeseen incidents like illness -- heck, even pride. There are tons of families in this situation and most have trouble finding a solution on their own. You may have all the information and education in the world, but it takes a lot to reach out and say, "Hey, I might need some help with this." There's no shame in that.

Oguamanam There are options such as helping to reorganize finances and spending, but too many times households come for help when they are months behind on their mortgage.

Q What are some options? A lot of families start off well, yet stumble to make payments when the rates adjust.

Oguamanam We do help people find resources that in some cases could help with mortgage payments, but they have to meet certain criteria. We do our best.

Milton We try to help negotiate with lenders to modify loans to keep them affordable. We try to find the most effective strategy to keep families in their homes.

Our goal is not to help with a one-time payment; that's not what we do. We want to assist with finding an affordable solution that's going to benefit over the long haul.

Terry Collins • 612-673-1790

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