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Newsletters>
Re: Peg's Learning Financial Help with Mortgages
June 19, 2008
Today, I had the honor of speaking at Trinity Cathedral in
Downtown Cleveland where ESOP held their first annual
Appreciation Breakfast. In attendance was Jim Rokakis
(Cuyahoga County Treasurer) and many other representatives
on behalf of Chase, Fifth Third, and Countrywide Home
Loans.
Not long ago I had found myself in a financial predicament
due to a vehicle that I had purchased which turned out to
be a lemon. I was trying to recuperate from the first
financial disaster of a caregiver for almost seven years
and then I fell upon more problems when I purchased this
car.
The dealer I purchased this from in Broadview Heights had
no intention of helping me and I ended up placing over
$7,000.00 in repairs for my car. When you find yourself in
a situation like that, you have no choice but to repair
your vehicle, because we all need transportation; thus,
your mortgage payment may be late if not paid at all.
I was lucky enough to find a group called ESOP (Empowering
and Strengthening Ohio's People) before my credit got
ruined.
http://www.esop-cleveland.org
ESOP works with homeowners and their lenders to obtain
affordable resolutions that preserve home ownership. ESOP
uses a Hot Spot Card process, through which homeowners
complete documentation and provide financial information
relevant to their case, and have the opportunity to make
suggestions to the lender for a resolution.
ESOP foreclosure prevention advocates use the information
obtained from the homeowner to negotiate with the lender
for an affordable modification to the loan. Unlike most
housing counseling agencies, ESOP has direct points of
contact and formal agreements with many lending companies,
which produces results in a quick and efficient manner.
ESOP was able to get my lender to give me a deferred
payment of two months and a fixed interest rate of 6.5%, so
that I could get back on track. This reduced my house
payment by $200.00 a month and took a great deal of
pressure off of me. This service was free, but the deferred
payment was added onto my mortgage.
Are you having a difficult time making your mortgage
payment?
It could happen to anyone at one point in time or another.
More and more people are finding themselves in situations;
whereby, beyond their control they are unable to make their
house payments. Some may feel that there is no way out of
their financial problems and they are ready to give up.
I recently read a sign at Lorain Community College which
stated something like; There is no problem that you have
that cannot be solved, it's finding the right person who
can help you.
If you do not tell anyone and ask for help, no one will
know that you need it.
Today, I found out that ESOP will be opening branches in
Lorain county as well as many other counties. They have
been awarded the organization who has helped the most
people in Cuyahoga County.
I am honored to have been invited tomorrow to help them
celebrate a Shares Annual Awards Ceremony at Windows on the
River for this special event.
Contact ESOP now if you are having a problem with your
house payment. You may be pleasantly surprised at what they
may be able to do for you. (216) 361-0718.
Blessings to you all,
Peggy
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