/PRNewswire/ -- Today, Grammy Award winner and multi-platinum recording artist Mary J. Blige, and rapper, song-writer, record producer, Big Boi, one-half of the six-time Grammy Award winning duo Outkast, joined the "Bringing Hope Home" bus tour for its second stop, Atlanta, in a four city tour to raise awareness about the foreclosure problems facing families and the resources available to help them avoid losing their homes.
While in Atlanta, Mary J. Blige and Big Boi will meet with housing counselors at Resources for Residents and Communities and Consumer Credit Counseling Service of Greater Atlanta. They will also hear firsthand from families who struggled with their mortgages but reached out for help through non-profit, community-based counseling agencies.
Mary J. Blige says that she's glad she can help raise awareness about home foreclosures in Atlanta - where her family roots are so strong. "Foreclosure rates in Atlanta have risen drastically in recent years," she said, "so I want to do what I can to help educate people about the options available to them to help keep their homes. They have to know where to go to ask for help. But most importantly, they need to know that they have to ask."
Big Boi, an Atlanta resident, says he can't stand by and watch more Atlantans lose their homes. "There are too many resources available for this to continue happening to families in Atlanta. That's what this bus tour is about - making sure the people here know that too."
The tour will highlight local and national resources available to homeowners including the Homeowner's Hope(TM) Hotline, (888) 995-HOPE, which provides free help to homeowners 24 hours a day, 7 days a week. Homeowners can also receive help by logging onto www.MakingHomeAffordable.gov or by finding a HUD-approved counseling agency in their community. The tour is also designed to raise awareness about the growing number of foreclosure prevention scams preying on distressed homeowners.
Atlanta is the second stop on the bus tour following February's successful launch in Newark featuring Queen Latifah, Wyclef Jean and Angie Martinez - all Newark natives. The "Bringing Hope Home" campaign will continue in two additional cities - Miami and Cleveland - and is being sponsored by HOPE NOW Alliance and supported through a grant from Fannie Mae's Office of Community and Charitable Giving. The campaign is an extension of Fannie Mae's overall effort to prevent foreclosures and keep people in their homes.
As part of the "Bringing HOPE Home" campaign, the HOPE NOW Alliance is hosting outreach events in several cities to provide homeowners the opportunity to meet with their mortgage lender and local counselors face-to-face. Just this week in Atlanta, more than 20 mortgage servicers along with local counseling organizations came together to provide counseling to more than 3300 families in the Atlanta region.
Faith Schwartz, HOPE NOW's executive director says that homeowners need to be educated about the resources available to them and be aware and wary of the schemes out there to take advantage of their vulnerability. "Along with the HOPE Hotline, there are various free local organizations in communities across the country available to homeowners to help them save their homes from foreclosures," she said. "Do not be tricked by anyone asking for money - because no one should have to pay to get the help they need to save their homes, their families and their communities from foreclosure."
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Saturday, April 18, 2009
Mary J. Blige and Big Boi 'Bringing Hope Home' to Atlanta
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I have purchased a home 80% interest only (Grennpoint now Countrywide 7.25 %), and 20% with Citimortgage 9.125%, I am in financial hardship, so I have applied for Hope now program with both Banks in order to modified loans, with citi I got this response to be signed as soon as posible. Is this how hope now program works?
"You, as the Borrower, promise to pay the Unpaid Principal Balance, plus interest, to the order of CitiMortgage. Interest will be charged on the Unpaid Principal Balance for the first year at the yearly reduced rate of 4%, beginning from 05/10/09, and you promise to pay twelve consecutive monthly payments of principal (as applicable) and interest in the amount of $187.50, beginning on 05/10/09. Thereafter, after such twelve monthly payments have been paid by you, interest will be charged on the Unpaid Principal Balance at the yearly rate originally set forth in the Note, and you, as Borrower, promise to pay monthly payments of principal (as applicable) and interest all in accordance with the terms of the Note, beginning on 05/10/10 and on the same day of each succeeding month until all principal, together with interest accrued thereon, due under the Note is paid in full. If, on 10/10/2036 (the "Maturity Date"), the Borrower still owe the amount under the Note and Security Instrument, as amended by the terms set forth in this letter, the Borrower will pay these amounts in full on the Maturity Date.”
Thanks
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