Local Leaders Offer An Approach To The Foreclosure Crisis

Joseph Vas

Joseph Vas

PERTH AMBOY – On Thursday, Nov. 6, Assemblyman Joseph Vas, Faith Fellowship and the Puerto Rican Association for Human Development (PRAHD) announced a partnership for foreclosure prevention and asset preservation counseling in the 19th Legislative District. The parties signed a memorandum of understanding to mutually preserve homeownership by raising consumer awareness of available mortgage products, funding and refinancing, increasing access to credit and loan counseling, and providing temporary assistance to constituents facing foreclosure.

“I am proud to announce that my district office is collaborating with existing agencies, such as Faith Fellowship and PRAHD, in an effort to provide foreclosure mitigation assistance to over 1,500 families in our district who need this help in order to learn about their options,” said Vas (D-Middlesex.) “This partnership is intended to provide legitimate and appropriate resources on an individualized basis. Today’s memorandum of understanding formalizes the relationship between all three of our offices in this effort, as the City of Perth Amboy currently does not have a foreclosure prevention program in place.”

The collaboration spurs from a growing number of constituents who are currently finding themselves struggling with a tough national economic climate. Currently, Faith Fellowship is the only certified Housing and Urban Development Housing Counselor in the 19th Legislative District that can assist the intended constituency. PRAHD is a local non-profit that has assisted an under-served Spanish-speaking population in Middlesex County for the last 35 years that has provided many needed social services for the community.

Vas and Faith Fellowship also announced a seminar that will provide an overview of programs that are available as our nation faces a national foreclosure crisis that continues to threaten our local economies, entitled “Keeping the American Dream Homeownership Alive,” scheduled for Nov. 15 from 8:30 a.m. until 3 p.m. at Faith Fellowship, located at 2707 Main Street in Sayreville. The seminar will include the following free workshops: General Session, Avoiding Foreclosure and One-on-One Counseling.

Faith Fellowship will offer comprehensive sessions designed to provide information on how to avoid foreclosure, credit, market trends and new legislation affecting homeownership. Counselors will be available to review state, local and community-based programs and services to assist with homeownership acquisition and retention.

To register or for more information regarding this program, contact the District Office of Assemblyman Joseph Vas at (732) 324-5955 or via e-mail at AsmVas@njleg.org. You may also register online at www.ffcdc.net.

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