MD Foreclosure Workshop Draws Crowds

Mortgage foreclosures are still a problem, and they’re a particularly large problem in Southern Maryland.

Maryland’s Secretary of Housing, Ray Skinner, told a workshop in Clinton, “About 31% of all the foreclosures… in the entire state of Maryland are right here in Prince George’s County.  And, unfortunately, this latest data shows that Charles County has the second highest rate of foreclosures.”

200 people came to Mt Ennon Baptist Church in Clinton for a workshop on solutions to mortgage problems.

Congressman Steny Hoyer’s staff organized the workshop, which included attorneys who volunteered to give free legal advice and representatives of the biggest mortgage companies.

Sean and Christine Byrams came to the workshop for help with their household mortgage.  During this recession, both of them have taken pay cuts – the cut in Sean’s income has been huge.  After the meeting with their lender, the Byrams were hopeful.  “They are very willing to work with us, which we appreciate,” said Christine Byrams. 

Sometimes the lenders make huge changes in mortgage terms.  Postal clerk Stephanie Hungerford took out an adjustable rate mortgage several years ago.  Then a perfect storm of problems arrived:  the rates came up, she got divorced, and the postal service cut her hours. 

She was having difficulty making her $1,700 monthly note.  After a workout with her lender, Ms. Hungerford’s mortgage has been cut to $805 a month. 

She is elated at the difference, and when her lender asked that she attend the workshop, she agreed to come to express her gratitude over the new deal.