Virginia will offer three free regional clinics to help homeowners avoid foreclosure.
The Virginia Foreclosure Task Force, created by Gov. Timothy M. Kaine in November 2007, will hold the clinics in Richmond, Virginia Beach and Roanoke.
“If you have concerns about the health of your mortgage, I encourage you to sign up for one of these free mortgage clinics,” Kaine said a in a statement. “Whether you are just beginning to have trouble making your mortgage payments, or you are already in foreclosure, our hope is that the information you receive at the clinics will help you keep your home.”
The clinics will include advice on avoiding foreclosure and individual counseling sessions.
The task force will allow walk-in appointments, but is encouraging homeowners to pre-register for the clinics. Residents can sign up at www.virginiaforeclosureprevention.com.
All clinics will be held from 8:30 a.m. to 5 p.m. on Saturday, June 14. They will be held at the Greater Richmond Convention Center, at Larkspur Middle School in Virginia Beach and the Roanoke Higher Education Center in Roanoke.
The point of foreclosure is to get away from the ownership. Over the past few years, the increase in house values has been based upon the idea of reselling for a huge profit. A profit that likely exceeds what someone would gain from an actual job that is productive. It was a mania, not unlike that of Beanie Babies or Playstation 3 game consoles before Christmas. But now the mania is over. People were given huge loans, often with no collateral of their own required (100%+ CLTV loans). It’s like buying stock on 100% margin, and you can walk away if you loose. So now they are walking away. It was to be expected. If you couldn’t see the oncoming housing crisis in 2003 I’d question intelligence. By 2004 it was a given. The current housing prices in most of America are based on fraud.
--Ethan of Norfolk, VA
May. 20, 2008 at 05:45 PM