Merced County now has the fourth-highest foreclosure rate of any metropolitan area in the nation. Given that stunning statistic, organizers of Saturday’s foreclosure prevention workshop are expecting a big turnout.
“At this point, foreclosures are affecting the whole community,” said Assemblywoman Cathleen Galgiani, who’s sponsoring the event. “It’s become so overwhelming that it’s trickling down to businesses, to entire neighborhoods. We have to act.”
Galgiani, D-Stockton, will host a workshop Saturday at 10 a.m. with Mayor Ellie Wooten at the Merced Civil Center. Galgiani is sponsoring three more in the next month.
Besides representatives from local lenders, the workshop will include one-on-one advice from mortgage counselors. The goal isn’t to sign homeowners up for new mortgages; it’s to educate those in danger of losing their homes about their options, Galgiani said.