November 28, 2007

            DETROIT  - Attorney General Mike Cox today announced a new effort by his office to help homeowners avoid foreclosure. Cox announced that his office was sponsoring an Avoid Foreclosure forum on Thursday, December 13, at Cobo Hall in Detroit. The forum is free, open to the public, and will run from 12:00 noon until 8:00 p.m.

            "Michigan continues to have one of the highest rates of foreclosures in the country," said Cox. "Foreclosure is the nightmare no homeowner wants to face. This forum will assist homeowners with options to help save their home."

            Cox organized the "Avoid Foreclosure: Tools to Help Save Your Home" consumer forum by working with some of the nation's largest loan and service providers. The event will allow consumers to meet one-on-one with their loan provider (a list of loan providers attending is attached). For consumers who are unable to meet with their loan provider, independent loan counselors will be available. There will also be several educational seminars available throughout the day, running every 30 minutes.

            Letters have been mailed out to more than 30,000 Michigan homeowners from lenders with a letter from the Attorney General and information about the forum. Homeowners who receive the letter have been identified as persons with whom the lender would like to discuss possible remedies to help the borrowers stay out of foreclosure.

            "My office continues to work on ways to help Michigan homeowners through this rough time and let them know that they are not alone in the fight to save their home," continued Cox.

            Visit the Attorney General's website at www.michigan.gov/agfor more information on the event, a downloadable brochure with tools and tips to help save your home, and contact information for the lenders and service providers attending the Avoid Foreclosure forum.

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