Hundreds Attend Home Rescue Fair

Assemblymember Gil Cedillo sponsored a “Home Rescue Fair” on Saturday in the 45th district. Lenders like JP Morgan Chase and Bank of America were on hand, as were certified counselors from the United States Department of Housing and Urban Development.

The event was hosted by Goodwill Industries at 342 N. San Fernando Road. It was aimed at providing extra leverage and access to homeowners in the district who might be in some stage of the lengthy process of losing one's home.

According to data provided to Cedillo's office by the Montebello Housing and Development Corporation, some 12,744 homeowners in the district were facing foreclosure in early August 2011. 623 of those are in the 90026 zip code. The agency was a co-sponsor of Saturday's fair.

Click here to read the EastsiderLA's recent take on the extent of the foreclosure problem in Northeast Los Angeles.

Felipe Agredano-Lozano, sporting the red T-shirt of a staffer, said that attendees at the fair faced a variety of issues. It runs the gamut from people who “take every precaution” to prevent financial disaster to those whose home already “had been sold by the bank.”

Families facing foreclosure or mortgage difficulty could speak directly to their banks to try to resolve the issue. They could also see a HUD counselor or an attorney to learn about their rights and other options.

Agredano-Lozano estimated that some 80 percent of the families that seek help at the fair have been victims of scams or fraud. For instance, he cited attorneys that charge thousands of dollars for advice when HUD can provide counseling free of charge.

Cedillo’s hope is to educate people, help them during “such a crisis” and learn how to better reach out in the future. “They bought the American dream,” he said, and “they want a concrete response.” Cedillo reported that the fair “got a big turnout” which is something “we didn’t really want.”

Over 100 volunteers turned out to help the process. From local high school students to members of neighborhood councils, the community of the 45th district turned out to help things run smoothly. Homeowners registered, heard lectures and spoke with lenders and counselors.

Nearly 300 families had turned out by lunchtime, which some lining up as early as six in the morning, Agredano-Lozano said. Those numbers meant a 45-minute wait time, but were down from last year’s fair when some 1200 families sought help.

Plans are in the work for another fair in December. Cedillo hopes to make that one “even better,” and to learn if he needs to focus on policy changes or just further education and outreach. “Not every problem requires a law,” he said.

Agredano-Lozano cited the importance of “intact communities” and saving homes. Preventing foreclosures keeps home values up, crime down and kids in school. Helping families stay in their homes “stabilizes the neighborhood.”

Services were provided in English, Spanish, Mandarin, Cantonese, Vietnamese, Cambodian and Thai. Groups that helped organize, sponsor, and contribute to the event included the Greater Echo Park Elysian Neighborhood Council, Los Angeles Council President Eric Garcetti, the Echo Park Improvement Association and El Centro del Pueblo.