Borrowers Still Slow to Get Help
By Angela Barker
A recent article in The New York Times states
that despite the vast publicity about ways to avoid foreclosure,
most borrowers remain unaware that their lenders are
willing to help them.
Indeed, the article cites a recent report released
by Freddie Mac, one of the two government-sponsored
businesses that acquired mortgages from lenders and
sell them to investors, which states that 57 percent
of delinquent borrowers did not know about the various
options lenders offer to delinquent borrowers.
In this slow real estate market it is to no one’s
advantage to foreclose on a home. Moreover, many lawyers’ associations
have formed task forces to assist buyers in saving their
homes. If you are falling behind on your mortgage payments,
contact your lender. In addition, contact your local
lawyers’ bar association and ask them for a referral
to a foreclosure prevention task force in your area.
Angela Barker is a graduate of Columbia Law
School and is an attorney in private practice. Her
firm, The Law Office of Angela Barker & Associates,
LLC,handles a full range of family law matters,
including, prenup agreements, divorce, legal separation,
establishment and modification of child support, establishment
and modification of child custody and visitation, and
cohabitation and domestic partnership documents. The
law office also handles a full range of real estate
transactions and trust and estate matters. She is admitted
to practice in the State and Federal Courts of New
York and New Jersey. Visit her at www.angelabarkerlaw.com.
© Copyright 2008, American Bar Association.
