Personal Finances Series
Published on Thursday, January 9, 2014 - 4:38pm
According to Britannica Online Encyclopedia, foreclosure is a "legal proceeding by which a mortgagor's rights to a mortgaged property may be extinguished if the mortgagor (borrower) fails to live up to the obligations agreed to in the mortgage."
Since the start of the Great Recession of 2007 until today, more than 4 million homeowners have lost their homes. Foreclosure can be a stressful event that is emotionally draining for at least two reasons: First, the homeowner must cope with a steep downgrade in their personal credit rating. Second, the homeowner may face the harsh bitterness of homelessness.
Avoiding Foreclosure, the first class in a financial wellness series offered by the Latino Economic Development Center, will tackle this subject and offer practical step-by-step advice.
Please join us Saturday morning, Jan. 11, at 11:30 a.m.