Workshop available for struggling homeowners in danger of foreclosure

What: A free foreclosure prevention workshop to learn about assistance and options available to homeowners

When: Saturday, Dec. 5 from 8:30 a.m. to 3 p.m.

Where: South Texas College Pecan Campus, Building H, 3201 W. Pecan Blvd., McAllen

For more information, visit texasforeclosurehelp.org or call (956) 631-4826

McALLEN — The Texas Foreclosure Prevention Task Force had targeted McAllen for its foreclosure prevention workshop months ago.

That decision now looks like incredible foresight.

One in 251 homes in McAllen is in foreclosure, CNN Money reported late last month. The increase — 1,197 percent — is the highest in the nation.

The latest figures are in stark contract to previous numbers for the city, which had done well in the initial stages of the recession.

JoAnn DePenning, the co-chair of the task force, said the workshops — held monthly across the state — put homeowners in danger of foreclosure in touch with agencies that can help them.

December’s workshop will be Saturday, Dec. 5, at South Texas College in McAllen.

"They pair in some way, shape or form opportunity to meet with lenders," she said. "We connect those dots so homeowners understand that the servicers want to work with them."

The goal of the event is to give homeowners time with their lenders and financial counselors to develop a financial plan to prevent foreclosure, she said.

Bilingual counselors from five large lenders — Chase, Wells Fargo, American Home Mortgage Servicing, Ocwen and Fannie Mae — will be available for face-to-face sessions with their lenders.

The sessions provide homeowners a better understanding of their financial situations and option, which can possibly lead to loan modifications.

Representatives from the U.S. Department of Housing and Urban Development and other non-profit housing agencies will also be available to assist homeowners.

The workshop includes brief educational sessions with homeowners and is free and open to the public.

U.S. Reps. Henry Cuellar, D-Laredo, and Ruben Hinojosa, D-Mercedes, are sponsoring the workshop.

"One of the most important pillars that support our nation’s economic structure is the mortgage industry," said Cuellar, who will be in attendance. "During these difficult economic times, it is imperative that we work together to strengthen not only our financial institutions but to lend a helping hand to struggling home owners."