Congresswoman Mary Bono Mack (CA-45) today addressed concerns about the housing market at the Foreclosure Prevention Community Workshop. Bono Mack worked with the City of Murrieta and the Fair Housing Council, Inc., of Riverside County to bring this free workshop to the Murrieta area. The all-day workshop gave homeowners the opportunity to speak with non-profit, Housing and Urban Development (HUD)-approved counselors and also provided important information on issues such as preventing foreclosure, refinancing, preparing a home for sale and detecting fraud.
"As one of the nation's fastest growing areas, our community is being hit especially hard by the current housing crisis," said Bono Mack. "I am pleased that this foreclosure prevention workshop gave local residents the opportunity to speak face-to-face with experts and get the timely information they need as they make important financial decisions. While Congress continues to work to solve some of the problems in the housing market, many individuals cannot afford to wait for legislative action to help them deal with immediate challenges they are facing.
"It is my hope that all who attended this event found it beneficial and are now better equipped with the tools they need to get through a tough economic time."
During the all-day workshop, residents met with nonprofit, HUD-approved housing counselors, lenders, legal representatives and others to discuss topics such as refinancing, preparing a home for sale, detecting fraud, and talking with lenders.
Bono Mack notes that in Washington, Members of Congress continue to hold hearings and listen to testimony on everything from broad reforms of the United States' financial regulatory structure to providing tax incentives that would encourage homebuyers. Bono Mack has supported and helped pass into law such legislation as sending out stimulus checks to help boost the economy; temporarily raising the cap on loans backed by the Federal Housing Administration (FHA) and government sponsored enterprises (GSEs); and abolishing taxes due on debt forgiven by lenders.