Home Events Rep. Rice to Host Mortgage Modification Fair

Rep. Rice to Host Mortgage Modification Fair

Opportunities to meet with lenders, attorneys and counselors and learn how to take advantage of soon-to-expire federal programs that help homeowners avoid foreclosure

GARDEN CITY, NY – (RealEstateRama) — U.S. Representative Kathleen Rice is hosting a Mortgage Modification Fair on Saturday, September 24th from 8:00 a.m.-3:00 p.m. at the Cradle of Aviation Museum in cooperation with Nassau County Executive Edward P. Mangano’s office. Homeowners who are struggling to make mortgage payments will have opportunities to attend lectures and seminars on financial best practices by homeownership and mortgage modification specialists, and meet directly with attorneys, counselors, support groups and lenders in the exhibit zone on the lower level of the museum in order to learn how to make homeownership more affordable and avoid foreclosure.

Participating lenders, housing agencies, legal and support groups include Bank of America, Bayview Loan Servicing, Caliber Home Loans, Citibank, JPMorgan Chase, NationStar, Ocwen, Wells Fargo, the Community Development Corporation of Long Island, the Long Island Housing Partnership and the Nassau County Bar Association. The event is free and open to the public.

The federal Making Home Affordable (MHA) program expires in December, 2016. MHA includes the Home Affordable Modification Program (HAMP), which assists homeowners who are struggling to make mortgage payments and at risk of foreclosure, and the Home Affordable Refinancing Program (HARP), which allows homeowners who are current on mortgage payments but have little to no equity to refinance their mortgages. Homeowners are encouraged to attend the fair this Saturday in order to learn how they can take advantage of these programs before they expire.

Homeowners are urged NOT to hire any company that charges a fee upfront. Scammers often target distressed homeowners and offer false promises of a guaranteed modification or reduced principle balance on their home loan in exchange for thousands of dollars in upfront fees. The Mortgage Assistance Relief Rule, published by the FTC in December, 2010, prohibits loan modification services from charging these fees before a consumer has a written offer of mortgage relief from his or her lender. If you believe you have been a victim of Mortgage Fraud, you can contact the State Attorney General Hotline at 1-800-771-7755.

WHEN:          Saturday, September 24th, 2016 – 8:00 a.m.-3:00 p.m.

WHERE:       Cradle of Aviation Museum (Charles Lindbergh Blvd, Garden City, NY 11530)

WHAT:          Mortgage Modification Fair hosted by Rep. Kathleen Rice and Nassau County Executive Edward P. Mangano

Coleman Lamb ((202) 225-5516)