Foreclosure expo provides info

By Shavonne Potts

spotts@salisburypost.com

Two years ago, Deborah Turnbull inherited a house from her mother who died and she's been struggling to keep it ever since.

Turnbull is in the process of home foreclosure. She has exhausted all avenues and turned to a Home Foreclosure Expo on Thursday at the F&M Trolley Barn.

Nearly 50 attendees learned about alternatives such as repayment plans, loan modifications and pre-foreclosure sales.

"I'm in a foreclosure situation with my bank," she said.

Her situation is like many across the state and nation who are also going through the foreclosure process.

"I got behind because I was sick. When I went back to my job, it was closed," she said.

She had no problems paying the mortgage before she got sick.

Turnbull said she's at the point where her lenders are telling her they have foreclosure packages for her to sign.

She's been to local agencies and her lender, both saying she doesn't qualify for certain programs.

"I don't want to lose my home," Turnbull said.

She remains unemployed and is raising her grandson.

"I hear about all this government funding, but who is it for?" she asked.

Thomas Warren heard about the Expo through a friend.

"I want to see what's out there to modify, or other programs," he said.

He said he's not at the point of foreclosure but just wants to know what options he may have if, "push comes to shove, who do I contact?"

W.D. Russell said she's been making payments on her home, and her lender reduced the payments. But now the lender asked for back pay on the reduction.

"I'm in a modification program. I want to see if there's a better program," she said.

Kay Yang attended the Expo with her father, Chia. The family's home is in foreclosure. Chia saw a flyer about the event. He said he wants some other options in hopes of saving the family's home, which they've been in for the past 13 years.

"We've been dealing with it for a bit," Kay said. "We hope there's something more helpful."

Local Realtor Elia Gegorek attended the Expo for more education about the foreclosure process.

"As a Realtor, I thought this would be a good information tool," she said.

She hasn't had too many dealings with clients who've been in the foreclosure process, but she was able to help a client sell a home before foreclosure.

"I want to know more about the process," she said.

Those in attendance had the opportunity to speak one-on-one with representatives from the North Carolina Housing Finance Agency, Legal Aid North Carolina, the U.S. Department of Housing and Urban Development (HUD), the North Carolina Housing Coalition and the state Commissioner of Banks. Those agencies were also general sponsors of the event along with Miller Davis, Fidelity Bank and the United Way of Rowan County.

Steve Fisher, president of F&M Bank, told the audience that if someone other than a lender says to a homeowner they must pay to get out of foreclosure then it is a scam.

"All of these are free services here tonight," he said.

Regina Greene, of the North Carolina Housing Coalition, provided information about how to report a scam.

"The real answer is inside these four walls with all of these agencies in this room," Greene said.

"You have people here to support you," said Cynthia DuRant with the U.S. Department of Housing and Urban Development (HUD).

She spoke about the Making Home Affordable Program, which provides temporary mortgage assistance to some unemployed homeowners. She also mentioned new laws and opportunities for homeowners that will begin in June.

The new regulation will work so that once a homeowner asks for a loan modification, any foreclosure actions must be halted. In the past, lenders pursued foreclosures at the same time they were working with homeowners to make their loan payments more manageable.

The presenting sponsors for the event were Salisbury Community Development Corp., F&M Bank, Quick Copy Shop, Food Lion, Salisbury Post and the city of Salisbury.