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Murphy will attend event to answer questions about mortgage assistance for homeowners
Jun 20, 09:15 AM
Danbury News Times
By Dirk Perrefort
Staff Writer
DANBURY — Congressman Chris Murphy will be at a forum in City Hall Saturday to help answer questions about mortgage assistance for troubled homeowners and first-time buyers.
“There are thousands of families facing foreclosure, and many don’t know about the resources that are out there to help them stay in their homes,” said Murphy, D-5th District. “This is an opportunity for them to hear about what options are available.”
Murphy said panelists at the event will include a mortgage specialist, a credit counselor, and representatives from the Federal Housing Authority and the Connecticut Housing Finance Authority.
Panelist Tim Coppage, vice president of housing development for CHFA, said education is key.
“We’ve done a number of housing fairs and the attendance is always very strong,” he said. “Education about what assistance is available is very important for borrowers finding themselves in trouble.”
Coppage said the state has three programs he will discuss during the forum, two of which take effect July 1.
Gov. M. Jodi Rell signed more than $130 million for the programs into law this week, he said.
The state assistance includes everything from refinancing a mortgage at a lower interest rate to providing secondary loans to help with back payments to assisting homeowners who want to renegotiate their loan terms with a lender.
Coppage said nearly 90 loans are already in the process of being refinanced through the Connecticut Families program. Hundreds of homeowners have also been able to modify the terms of their mortgages with state assistance, he said.
“You don’t necessarily have to be behind in your mortgage to qualify for some of the programs,” he said. “You could have an adjustable rate mortgage that could be resetting and you’re worried you can’t afford the payments. The most important thing is to get help early. The earlier the better.”
The forum will be at 2 p.m. Saturday in City Hall.
