Housing And Mortgage Education Event

Waterbury — In an e-mail distributed by his office Monday, March 24, Congressman Chris Murphy announced his sponsorship of a housing and mortgage education event, Saturday, March 29, at 1 pm, at the Waterbury Arts Magnet School, located at 16 South Elm Street.

“Connecticut could be next in the housing crunch spreading across the country. Recently, The Warren Group, a New England real estate and finance group, announced that sales of single-family houses in Connecticut dropped 29 percent between January 2007 and January 2008,” read Mr Murphy’s e-mail.

“The percentage of subprime loan holders in foreclosure in Connecticut doubled from the first quarter of 2006 to the first quarter of 2007. And the future could be more difficult for families trying to make ends meet. These are astounding numbers, yet the good news is that there are resources out there to help new homebuyers get into homes they can afford, and to help homeowners who are having trouble paying their mortgage.”

The March 29 event is meant to help Connecticut residents learn how to get a mortgage they can afford, or for residents having trouble paying their mortgage, how to get help to allow them keep their homes.

Mr Murphy has invited representatives from the Connecticut Housing Finance Authority, the Department of Housing and Urban Development, NeighborWorks America, McCue Mortgage, and Fannie Mae to provide information about the products and services available to homebuyers and those attempting to prevent foreclosure.

The program is free of charge and no registration is required.

Earlier this month, Mr Murphy announced an increase in funding this year in the federal budget for housing counseling services. The $230 million in federal funding for housing counseling and mortgage foreclosure mitigation activities will make it possible for more families facing foreclosure to obtain help in negotiating changes to their mortgages to allow them to remain in their homes.