News Column

Foreclosure Prevention Consortium Scheduled

Nov. 20, 2012

Mississippi Attorney General Jim Hood is bringing the Mississippi Mortgage Foreclosure Prevention Consortium to Meridian on Wednesday, Dec. 5.

The consortium, created in July, will be at the East Mississippi Electrical Power Association Auditorium, at 2128 Highway 39, from 3-6 p.m.

The Mississippi Foreclosure Prevention Consortium is developed to assist homeowners who are struggling as a result of the foreclosure crisis. It is funded under the National Mortgage Settlement with the nation's five largest mortgage servicers over foreclosure abuses and fraud, and unacceptable mortgage servicing practices.

As part of the settlement, Mississippi received more than $13.5 million to be used to help "avoid preventable foreclosures, to ameliorate the effects of the foreclosure crisis, to enhance law enforcement efforts to prevent and prosecute financial fraud, or unfair or deceptive acts or practices and to compensate the state for costs resulting from the alleged unlawful conduct of the subject servicers," according to a news release issued by Hood's office.

Of that settlement amount, $5.8 million was allocated for creation of the consortium and the remaining $7.7 million was sent to the State General Fund for use by the Mississippi Legislature.

Partners with the consortium include: Money Management International; Mississippi Home Corporation; Mississippi Center for Justice; Mississippi Center for Legal Services; North Mississippi Rural Legal Services; and Mississippi Military Department.

"We partnered with these organizations to make sure that Mississippians were provided with the full range of services needed to address the problems facing homeowners across the state," Hood said.

For assistance or more information about the Mississippi Foreclosure Prevention Consortium, call the hotline at 1-866-530-9572.

Source: (c)2012 The Meridian Star (Meridian, Miss.) Distributed by MCT Information Services

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