FHLBank San Francisco Hosts Foreclosure Prevention Workshop in Stockton; U.S. Rep. Jerry McNerney Attends as a Special Guest

STOCKTON, Calif., Oct. 2, 2012 /PRNewswire-USNewswire/ -- In an effort to prevent foreclosures and provide first-time homebuyers with necessary purchasing tools, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) hosted a workshop on Saturday, September 29, to assist area residents with their housing challenges.

The workshop, which provided free counseling to the nearly 100 attendees, was held from 10 a.m. to 4 p.m. at Lincoln High School in Stockton.

U.S. Congressman Jerry McNerney, D-Stockton, who has been a strong supporter of homeowners, attended the event and expressed his concern for homeowners.

"Addressing the housing crisis in our community remains key to getting our economy firing on all cylinders again. Today's workshop not only helped folks at risk of foreclosure, arming them with the information and tools they need, but also helped potential first-time homebuyers. I will continue to work at the federal level to bring resources and solutions back home, and working with folks who are struggling in today's economy."

At the workshop, U.S. Department of Housing and Urban Development approved housing counselors were available to assist first-time homebuyers with navigating local, state, and federal programs geared toward helping them get into their first homes.

"A home is often a family's most valuable possession," said Dwight Alexander, a vice president at FHLBank San Francisco. "The Bank is providing counseling to help homeowners stay in their homes. And we are helping potential homebuyers understand their mortgage options. These events are valuable resources for communities."

Mr. Alexander said that one major road that leads to preventing home foreclosure is communication between homeowners and lenders. "Having both parties at one location helps open the door for constructive dialog," he said.

The institutions attending the workshop included the Federal Home Loan Bank of San Francisco, Bank of Agriculture and Commerce, Bank of America, CalHFA, Central Valley Association of Realtors®, Central Valley Realtist Association, Chase Bank, CitiMortgage, Clearpoint Credit Counseling Solutions, Community Housing Development Corporation, Federal Reserve Bank of San Francisco, Greater Sacramento Urban League, HUD, Lodi Association of Realtors, NAACP, NeighborWorks Stockton®, NID Housing Counseling Agency, and Visionary Home Builders of California.

For more information on the foreclosure and first-time homebuyer's workshop, contact Kevin Blackburn at the Federal Home Loan Bank of San Francisco at Blackbur@fhlbsf.com or 510-377-8999.

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank's members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.

SOURCE Federal Home Loan Bank (FHLB) of San Francisco