Francine Henderson says if she doesn't get help soon, her house, in the 3700 block of Edwards Avenue in Jackson, will be foreclosed upon.
"My mother left me her home in January. She passed away. We're trying to get some legal documents straightened out," Henderson said.
So on Monday, Henderson went to the Attorney General's Foreclosure Prevention Consortium set up at the Regency Hotel. She's getting valuable advice from attorneys and credit counselors.
"They stated the foreclosure could be stopped. I need a donation of $3,000 to stop it. My church has been very kind. Parkview Church of Christ," Henderson said.
Like other homeowners in a similar situation, Henderson can now see a way out of the problem. The foreclosure prevention clinics are taking place in various cities across the state, funded from the multi-billion dollar settlement reached earlier this year with the big five mortgage lenders: Bank of America, JP Morgan Chase, Wells Fargo, Citibank, and Ally/GMAC.
Although few, if any, Mississippians were directly affected by the companies' abusive practices, we were indirectly affected through the economic downturn. Mississippi received $13.5 million.
Anyone who is in danger of foreclosure is encouraged to take advantage of the free advice.
"There are a lot of programs to assist people facing foreclosure who are delinquent, programs that can possibly pay your mortgage for 12-24 months," says Paheadra Robinson of the Mississippi Center for Justice. "The attorneys can assist with loan modification, refinancing options available to many consumers."
On Monday night, the traveling consortium will be in Hattiesburg. On Tuesday, it will travel to Gautier and Bay St. Louis.
To find out more about the settlement, call 1-866-430-8358.
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