October 19, 2007
HP-621

U.S. Treasurer to Visit Cleveland
to Offer Mortgage Financing Advice

The United States Treasurer Anna Escobedo Cabral will visit South Elyria in Cleveland, Ohio Thursday to deliver advice to homeowners who may be experiencing difficulty paying their mortgage and may face foreclosure. 

More than half of borrowers who go into foreclosure never reach out for help.  Treasurer Cabral will deliver remarks at the South Elyria Neighborhood Development Corp Annual Education Luncheon to discuss the mortgage financing services and options offered by counseling agencies, which may help homeowners find a more affordable mortgage.

The Treasurer's efforts are part of Treasury's initiative to help subprime homeowners stay in their homes.  Secretary Paulson and U.S. Housing and Urban Development Secretary Alfonso Jackson last week encouraged the creation of HOPE NOW, a new national alliance of leading counselors, servicers, investors who will work together to educate more homeowners about their mortgage options.  The announcement follows on President Bush's broad plan to help homeowners, announced in August.

The Treasurer is available for media interviews and the following event is open to media:
 
Who  
U. S. Treasurer Anna Escobedo Cabral
What  
South Elyria Neighborhood Development Corp Annual Education Luncheon
When  
Thursday, October 25, 11:30 a.m. (EDT)
Where 
Elyria Holiday Inn
1825 Lorain Blvd.
Elyria, Ohio