By BOB CHALLINOR

Reprinted with permission from the Desert Valley Times; May 27, 2011 edition.

A foreclosure information fair marshalling a variety of resources to assist area homeowners has been scheduled for August.The event, sponsored by the Mesquite Real Estate Association and presented by the U.S. Department of Housing and Urban Development, will inform the community about programs and agencies that can assist distressed homeowners. The seminar will take place Aug. 18 from 10 a.m. to 3 p.m. at The Deuce in Mesquite.

Vickie L. Henry from HUD’s Las Vegas office said that HUD regularly provides education and outreach programs to southern Nevada residents.

“We offer workshops on a fairly regular basis in the Las Vegas Valley,” Henry said. “The formats vary based on what will provide the most effective and productive workshop. We bring in housing counseling agencies in conjunction with a panel of foreclosure experts. HUD also provides information about the state’s foreclosure mediation program.”

For a nominal fee, the state’s mediation program offers the homeowner an opportunity to get his/her lender or servicer to the negotiation table.

Henry spoke last month with Torres Ramey of the Mesquite Real Estate Association to finalize arrangements of the information event.

“We’re helping to sponsor the event,” Ramey said. “It will be an information fair with different sections manned by housing professionals. Homeowners will be directed to a short presentation and briefing before going to the counseling booths.”

Henry said that a panel presentation along with HUD-approved agencies and HUD partners offer a good option for the area.

“This way, distressed homeowners will have all the available information and resources in one place, at one time,” Henry said.

“The available programs may or may not fit depending on financial circumstances and individual loan type,” she said. “We offer all available programs; there may be more than one program that homeowners may qualify for. We are hoping to provide all resources so that the homeowners can go forward with their specific case. All of the services that will be presented to the homeowners are free of charge through HUD-approved agencies and partnerships.”

Henry said she has seen the gamut of situations that lead to home foreclosures.

“We see everything from jobloss to under-employment and catastrophic illness,” she said. “Our role is to see that the homeowner receives the information required to address any foreclosure-related issues that they may be facing.

“A significant problem is the homeowners’ frustration. The process, regardless of program they may qualify for, can be daunting. HUD-approved agencies assist with that navigation, helping them to get that one-on-one assistance, which can be invaluable.

“Quite often HUD-approved agencies will guide the homeowner through the loss mitigation from beginning to end. Although HUD strives to assist and direct distressed homeowners to the resources available, unfortunately some things don’t always turn out as hoped.”

Henry said HUD also educates homeowners about fraud.

“There is a substantial number of mortgage fraud scams and there are several red flags to watch out for,” she said. “While anyone can be a target, it is the demographic of the elderly and minority community that seems the most susceptible.

Henry said foreclosure workshops and assistance programs also can clear up homeowner misconceptions. “Each homeowner’s situation is just that — their own,” she said. “Many homeowners tend to believe that they can achieve the same loss mitigation results as their neighbors, friends and family. The difference is that everyone’s situation is unique and distinct from anyone else.”

Henry said there are many resources available that few people think about when they are struggling to maintain their homes. For example, there is assistance offered for “transitioning from home ownership to rental,” she said. “People who have been homeowners are now faced with living in someone else’s home or apartment and are uncertain of potential credit damage following foreclosure or a short sale.”

Anyone interested in attending the information fair can contact the local government to voice their support for the event.

To ensure adequate seating, please RSVP to Vickie Henry, HUD at 702-366-2141 or email to Vickie.l.henry@hud.gov. Vickie.l.henry@hud.gov Please be sure to include your name, phone number along with the number of people attending by July 13, 2011.