Congressional Field Hearing on Foreclosures in Cleveland

Event Details:

Cleveland, OH—On Monday, June 16, 2008, Members of the Ohio Delegation will participate in a Congressional field hearing of the Financial Services Housing and Community Opportunity Subcommittee to address the growing problem of subprime lending and foreclosures in Ohio.

The event will consist of a hearing featuring two panel discussions on the various issues facing the housing community in Ohio and solutions on how to address those issues. Additionally, workout sessions will be taking place concurrently where mortgage providers will be available to answer questions from the public about loan modification and other foreclosure prevention methods. In addition, housing counselors will assist borrowers and provide information about mortgages.

Nationally, the number of seriously delinquent loans and new foreclosures in January and February of this year was over 2.1 million, an increase of 8 percent over the previous quarter and a 55 percent increase from a year earlier. Ohio ranked fourth in foreclosures last year with filings climbing approximately 30 percent between 2005 and 2007.

This event is free and open to the public. Those seeking assistance from counseling agencies should bring copies of all relevant documents with them to the event.

WHO: Congresswoman Maxine Waters (CA-35), Chairwoman of the House Financial Services Housing and Community Opportunity Subcommittee, and Ohio Congressional Delegation Members, including Congressman Charlie Wilson (OH-6)

WHAT: Congressional Field Hearing/ Foreclosure Workout Session

TOPIC: Community Solutions for the Prevention and Management of Foreclosures and Subprime Mortgages

WHEN: Monday, June 16, 2008 
9:00AM - 2:00PM

WHERE: The Joseph E. Cole Center for Continuing Education 
Cleveland State University 
3100 Chester Avenue
Cleveland, OH