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HUD, Treasury Host Event for Troubled Homeowners in Maryland

The ""Department of the Treasury"":http://www.treasury.gov/Pages/default.aspx and ""HUD"":http://portal.hud.gov/hudportal/HUD announced Wednesday that they are hosting a free event for struggling homeowners in Maryland.


The event will be the Obama administration's 75th occasion designed to assist homeowners struggling to avoid foreclosure. It is being held at the Show Place Arena in Prince George's County, Maryland.

""Since 2009, more than five million homeowners have gotten help to avoid foreclosure through government and mortgage company programs,"" said Tim Massad, assistant secretary for financial stability at the Treasury. ""But too often, homeowners delay reaching out for help until their options become more limited. These events are an important opportunity for homeowners to meet face-to-face with their mortgage company and a housing counselor to discuss the right options for their particular situation.""

The events bring together the nation's largest mortgage servicers, local HUD-approved housing counseling agencies, non-profits, and government partners who all work to help homeowners understand the resources available to avoid foreclosure. They often include roundtable discussions with community leaders and training seminars for professionals to help work with homeowners.

Wednesday's event in Maryland is sponsored in partnership with the HOPE NOW Alliance. A similar event hosted in Prince George's County in 2010 saw more than 1,100 homeowners receive assistance.

The administration is planning several additional events in the coming months, including events in Massachusetts, Michigan, and Tennessee. More information about these and other upcoming events can be found at ""MakingHomeAffordable.gov"":http://www.makinghomeaffordable.gov/pages/default.aspx.

In addition, the administration is working in partnership with the Ad Council to offer public service advertisements in English and Spanish to educate troubled homeowners about helpful resources. The campaign has already generated more than $58 million in donated media space.

""From the very beginning, the Obama Administration has been committed to providing help to homeowners and, as a result, we've seen foreclosure notices cut in half from early 2009,"" said HUD regional rdministrator Jane Vincent. ""And though much progress has been made, there is still more work to do. We know that when a homeowner seeks housing counseling they have a better than fifty percent chance of staying in their home. That's why today's event is so important for those needing assistance and that's why we will continue to be here to provide the assistance, tools and pathways for homeowners in need.""

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

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