Walberg Hosts Foreclosure Workshop in Battle Creek

Press Release

U.S. Congressman Tim Walberg (R-MI) today hosted a foreclosure workshop in Battle Creek. The event began at 3 p.m. at the Burnham Brook Community Center, located at 200 West Michigan Avenue in Battle Creek.

The first hour of the workshop included presentations and Q&A on foreclosure prevention with representatives from federal, state, and local organizations, including the Department of Housing and Urban Development, the Michigan Housing and Development Authority and Neighborhoods, INC of Battle Creek.

At 4 p.m., local credit unions, banks and lenders were available to answer questions and provide assistance on an individual level.

"A lack of leadership in Lansing and a slumping national economy have led to challenging times for Michiganders,'' Walberg said. "Our economy has frustrated people who've had dreams of home ownership and put many folks in difficult situations. Hopefully our event today and similar events across south-central Michigan will provide assistance to struggling families. The best thing any struggling family can do is seek help as early as possible."

Congressman Walberg's office is open to help those who may be in trouble. The office can be reached at 877-TIM-MI07.

BACKGROUND:

Michigan ranked sixth nationwide for foreclosure filings in February: http://www.freep.com/apps/pbcs.dll/article?AID=/20080313/BUSINESS04/803130362

Congressman Walberg:

- Voted for the Expanding American Homeownership Act, which will help more low- and moderate-income American families realize the dream of home ownership and prevent many first time and inexperienced home buyers from being pushed into loans that are unaffordable. This legislation will increase flexibility for borrowers regarding the down payment process and down payment options.

- Voted to stop taxes on mortgage debt forgiveness.

- Voted to modernize the Home Equity Conversion Mortgage Program and help more seniors afford to stay in their homes and afford Mortgage Insurance. The bill also increases counseling to help make consumers more informed to prevent fraud and abuse.

- Is working to advance an agenda that grows our economy and creates good-paying jobs by stop tax increases, lowering the tax burden, making government live within its means, balancing the budget and making health care more affordable.

- Is holding multiple town-hall meetings on the economy and holding workshops on how to prevent foreclosures, how small businesses can export, and how to pay for college.

Causes of Michigan's Foreclosure Situation:

- Tax increases that drive good-paying jobs out of Michigan. Michigan needs policies that grow its economy and create good-paying jobs in Michigan. Driving businesses out of Michigan makes the situation worse.

- The Michigan Legislature and Governor raided $7 million of the $9 million fund designated to investigate mortgage fraud. This fund was put in place to help the "little guys" currently hurting [source: Detroit News Editorial, Nov. 30, 2007].

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