The Charlottesville Area Association of Realtors is presenting a workshop tomorrow morning designed to educate homeowners on how they can stay in their houses. These are difficult times for many; if you have questions, think you might be underwater, might be selling, want to see what your options are, please try and make time tomorrow from 9 to 11 to attend this workshop.

Full press release after the break.

(I really should have posted this earlier; my apologies)

Preserving Home Ownership…Sharing Resources to Keep Homeowners in Homes

Has the economy made it harder to keep up with your mortgage payments? Are you looking for resources that will make it easier to stay in your home? Do you find yourself unable to get around as well physically as you used to? CAAR is presenting Preserving Home Ownership Workshop, a community event highlighting resources to sustain home ownership through financial, social, and physical challenges. This event, being held Saturday, April 30, 2011 from 9:00am – 11:00am at The Senior Center in Charlottesville, is designed to help homeowners tackle challenges that have the potential to impact homeownership.

CAAR recognizes the impacts of the economy and in addition to offering resources at this workshop, provides a Foreclosure Prevention Toolkit available on the CAAR website (www.caar.com) for those who may be facing foreclosure. “We are hopeful that people will realize they are not alone in their struggles and that there are agencies in the community that care and want to help them stay in their homes. We as REALTORS are not just concerned about getting people in homes; we also want to keep them in their homes,” says Trey Durham, CAAR Public Affairs Group member and Co-Chair of the workshop planning committee.

Preserving Home Ownership will bring together many community resources with valuable information to help homeowners stay in their homes. Along with guest speaker and media personality Jay James, there will be representatives from various partner agencies sharing knowledge. Partners include Access Home Mortgages, Builder Fish, Compass Home Loans, Piedmont Housing Alliance, Law Offices of Lee P. Dunham, JABA, New American Mortgage, and UVA Community Credit Union.

The follow is a preview of sessions that will be offered during the morning:

Loan Workout Resolution & Preserving Home Ownership Through Bankruptcy
Come and hear options available to assist you in getting your mortgage current. Piedmont Housing Alliance will present resources that may benefit you as well as review the qualifying criteria and the processes that homeowners need to be aware of. For those who have defaulted or are in imminent danger of defaulting on their mortgage payments, information will be presented that may help preserve ownership through bankruptcy.

Universal Design
Our nation suffers from “Peter Pan Housing” syndrome. Since the construction booms following World War II, our nation’s houses were built as if nobody ages or even changes. Learn how to make your home “livable for a lifetime” regardless of what happens to you or your family. This session will cover the basics of Universal “lifespan” Design for ensuring convenience, comfort and control for any personal circumstance or stage of life.

Credit issues/Debt and Budget Management
In the mortgage lending world, credit is a vital component in recognizing ability to repay a home loan. Information will be presented on the tightened credit standards and how homeowners can better prepare to take advantage of the benefits. This session will also cover the “budgeting basics” that will help with better cash flow management while avoiding overextending spending.

Seniors Aging in Place: The Realities and Resources Available
JABA is a great resource in our community, ensuring persons of all ages experience healthy aging. They will present some statistics on the aging in our community including some of the social challenges they may experience. This session will also include an overview of resources available to this population.

Reverse Mortgages: What are They and How Can They Benefit You?
A reverse mortgage is geared to people 62 and over, who would like to pull equity from their primary residence. Reverse mortgages can also be used to purchase a primary residence and never have a mortgage payment again. This session will present the details of reverse mortgages and provide information on how it may benefit some homeowners.

The Preserving Home Ownership workshop is FREE and open to the public. Registration is requested to ensure adequate materials. More information along with registration is available at www.caar.com or by calling 434-817-2227.

Many thanks to our generous sponsors: Central Virginia Association of Mortgage Professionals (CVaMP), and UVA Community Credit Union