Free seminars aim to help with mortgage problems
Congress extended the temporary upper limit on mortgages for jumbo loans. (Undated) Credit: Photos.com
School didn't give many of us financial cred, so thank God for free seminars.
The Long Island Council of Churches will host several programs in Blue Point in the next few weeks with tips from experts on managing mortgage problems and doing the family budget. The programs are open to the public and geared toward people who have lost their jobs but need to pay a mortgage and other bills. It's part of the nonprofit's ongoing series to help people in the economic crisis.
Perhaps the most interesting contributions will come from the audience.
What started out informally as a spring seminar -- a "homework assignment" asking borrowers to share ideas on how to ends meet -- is now part of the council's e-mailed newsletter, blasted to nonprofits, the lending world and more, said the Rev. Tom Goodhue, the group’s executive director.
Some novel ones: Rent out spare storage space in the garage, home or shed and advertise it at StoreAtMyHouse.com or SpareFoot.com; grow produce cooperatively with neighbors; donate items to charity and a get tax deduction; go to govbenefits.org to see what you qualify for; make sure you're not paying more homeowners insurance than needed because property values have fallen; and sell stuff you don't need on eBay.
Another one is to buy name-brand meat, vegetables and other groceries for less from Angel Food Ministries, which buys in bulk and has local churches act like food brokers, taking orders from people, who then pick them up once a month. The monthly menu changes and can be viewed at angelfoodministries.com, but a $30 box of basic food would normally cost $60.
"We were just so impressed with all the ideas that people came up with," Goodhue said.
From 10 to 11:30 a.m. Sept. 15 and also Oct. 13, managing mortgage problems will be the topic, with experts and attorneys from lenders and nonprofits to talk about the foreclosure process, loan modifications and possibly reverse mortgages.
Then 10 to 11:30 a.m. Sept. 22 and Oct. 20, doing a family budget will discussed.
The location is Henrietta Acampora Cottage, 39 Montauk Hwy. (north side of the road) in Blue Point. It's off Nichols Road.
No reservations required. For details, call the council at 516-565-0290.
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