Detroit Town Hall Meeting Addresses Home Foreclosures

DETROIT (WWJ) - A distinguished panel of experts are gathering in Metro Detroit  on Saturday for a free public town hall meeting to help those who are facing foreclosure.

Those who attend the meeting, held at the Detroit Public Library's Main Branch, will hear a panel of experts offer solutions and guidance, as well as participate in small group sessions. Rawle Andrews Jr., Regional Vice President for AARP, will speak at the seminar.

"We're really delighted to be a part of the program because they're going to have folks from the foreclosure task force and the U.S. Attorney General's Office as well as some practitioners who are going to be on the panel together," said Andrews.

According to Andrews, an alarming number of seniors are being forced out of their homes because they can't pay their property taxes and insurance.

"They've refinanced, a lot of times, into these jumbo mortgages and these adjustable rate mortgages that escalate in price even though all of the loan proceeds have already been provided. And since you can't raise any more money through earning potential, you're that much more likely to lose your  home and end up homeless," he said.

The forum will include discussions on general property/foreclosure law, current status of Michigan law, role of certified counselors, prevalent mortgage scams, the impact of filing for bankruptcy, fair housing issues, the Servicemembers Civil Relief Act, challenges for seniors, reverse mortgages and estate planning.

The public is invited to a Foreclosure Town Hall on Saturday, Oct. 29 from 2-5 p.m. at the Detroit Public Library, Friends Auditorium, 5201 Woodward Ave. in Detroit.