Ocwen Financial Corporation, along with the Seattle King County NAACP, have announced that they will host a Help & Hope for Homeowners borrower outreach event in Des Moines, Wash. on Sept. 10. The event will be held in Des Moines to attract borrowers from Seattle and Tacoma, as well as the surrounding areas, where delinquency rates remain relatively high. The event for Ocwen customers will be held from 8:00 a.m.-2:00 p.m. at the Highline College Student Union Center (Building 8) at 2400 S. 240th Street in Des Moines.
The event will offer borrowers the opportunity to meet with Ocwen Home Retention Agents and U.S. Department of Housing & Urban Development (HUD)-approved financial counselors to explore loan modifications and other options, including principal reduction programs, to make their homes more affordable.
According to RealtyTrac, in King County–which includes Seattle–one in 2,353 homes is in foreclosure. In certain pockets of the city the foreclosure rate is much higher, such as in Seattle’s Industrial District where the foreclosure rate is one in every 253 homes. In neighboring Pierce County–which encompasses Tacoma–the rate is one in every 1,022 homes. In Tacoma, one in 980 properties is in foreclosure. In Des Moines, one in 844 properties is in foreclosure.
“Like many metropolitan areas, families around Seattle are still at risk of losing their homes and need help now,” said Jill Showell, senior vice president of Government and Community Relations at Ocwen. “Our Help & Hope for Homeowners events offer real solutions and relief to distressed homeowners. The NAACP is a trusted resource in the Seattle and Tacoma area, and together we are committed to helping borrowers qualify for loan modification options so they can better afford their homes.”
Ocwen is helping struggling borrowers remain in their homes, having completed more than 680,000 loan modifications to date, many of which included a principal reduction for borrowers whose mortgage exceeded the current value of their home. Ocwen is also a leading participant in the Government’s HAMP program, responsible for more than 30 percent of new HAMP volume and 42 percent of HAMP modifications involving principal reduction.
“The NAACP understands the significance of homeownership not only for individuals, but for the communities where they live and work,” said Dr. Sheley Secrest, economic development chair of the Seattle King County NAACP. “Owning a home gives families stability, pride and a vehicle for building wealth. Our local Help & Hope for Homeowners event will give borrowers the opportunity to stay in their homes by working directly with Ocwen Home Retention Agents and HUD-approved financial counselors to find real solutions.”
