Mabuhay Alliance will be conducting a foreclosure clinic on Tuesday, March 2nd from 10:00 am to 4:00 pm with JPMorgan Chase that will focus on President Obama’s February 19th commitment of $1.5 billion to help homeowners facing foreclosure in California and four other states with high foreclosure and unemployment rates.
Faith Bautista has just returned from Washington, D.C. from meetings with key government officials, such as FDIC Chairman Sheila Bair, and will be discussing how the Administration’s $1.5 billion commitment and major changes in loan modifications could be of special benefit to California, including the more than 50 thousand San Diegans facing foreclosure.
At this clinic, local Chase, WaMu and EMC officials will meet with trained Advisors for free counseling with special forbearances, loan modifications and retention solutions. On-the-spot loan modifications will be done.
Assistance will also be provided for customers of Bank of America, One WestBank, Ocwen, Citibank, HSBC, U.S. Bank, Downey Savings, Saxon Mortgage, Litton Loan Servicing and Wilshire Credit.
In 2009, Mabuhay Alliance, in clinics throughout California and Nevada, has helped five thousand homeowners facing foreclosure or in default through its home counseling and foreclosure prevention offices in five regions of California and Nevada, including San Jose, Daly City/San Francisco and Las Vegas.
Faith Bautista, Executive Director of Mabuhay Alliance said, “The President is to be commended for his $1.5 billion commitment to help homeowners and for urging the Secretary of Treasury to follow homeowners’ advice relating to mortgage foreclosure moratoriums. JPMorgan Chase has been a leader in creative efforts, including their more than 60 home foreclosure centers throughout the United States.
It is Mabuhay’s hope that the Obama Administration, major financial institutions and major nonprofits will join together to prevent the more than fifty thousand pending foreclosures in San Diego and the over one million throughout the state of California.”