Press conference Monday morning:
When: Monday December 17th 10am
Where: At the home of Tina Williams, a homeowner facing foreclosure, 3884 East 112th Street
What: A coalition of community advocates will call on Sheriff Gerald McFaul and lending institutions to observe a 60 day foreclosure holiday to allow vulnerable borrowers time to get the help they need. The coalition will deliver an open letter to Sheriff McFaul calling for his leadership in stemming the tide of foreclosures that threatens to overwhelm many neighborhoods in Cuyahoga County. A 60-day moratorium on foreclosures of occupied houses would allow many of the affected homeowners time to work with housing counselors and their lenders to find ways to stay in their homes.
“Many of our friends and neighbors will be spending this holiday season wondering how much longer they will be able to stay in their homes. Whether they have adjustable rate mortgages that are about to reset, or payments that they simply can’t afford, they need relief. We are calling on Sheriff McFaul to do everything in his power to give these borrowers the extra time that will allow them to contact their lenders and stay in their homes.” said Tina Williams, a homeowner who is herself facing foreclosure.
Up to half of all homeowners facing foreclosure never contact their lenders. The 60 day foreclosure holiday would allow community organizations time to reach many of these borrowers…