Photo by Ariel Luckey.

BY KATE KILPATRICK // Residents worried about foreclosure on their homes can attend a free educational workshop this weekend at the Emeryville Senior Center.

A panel of housing advisers will discuss the foreclosure crisis—the scope of the problem and pending litigation—as well as warn against predatory lending and foreclosure rescue scams. HUD-certified counselors will also be on hand for individual guidance.

The workshop, sponsored by the Emeryville Redevelopment Agency, is part of the city’s eight-point strategy adopted in January to address the financial industry’s credit crunch and the rising number of homes being foreclosed.

A report released recently shows U.S. foreclosure filings soared 71 percent in the third quarter of 2008 (July through September) compared to the same period last year. RealtyTrac, a foreclosure-tracking service, predicts that by the end of the year one-third of all homes for sale nationwide will be foreclosed, bank-owned properties.

California alone makes up more than a quarter of all foreclosure filings nationwide. According to a 2007 article in Realty Times, high home prices in California can force buyers into loans they can’t afford. The article also cites California as third in the nation for mortgage fraud, behind Utah and Florida.

Emeryville’s HomeBuyers Program coordinator Janet Anderson has been tracking foreclosures locally. She’s found 94 properties in Emeryville that have entered some stage of foreclosure since December. Of those, 20 have been foreclosed.

“Most of them are condos because most of the housing stock in Emeryville is condos,” said Anderson.

Recent studies suggest a rise in foreclosures in a neighborhood can decrease property values, reduce city revenues, displace communities and increase crime.

“The city’s trying to be proactive and let people know there are resources out there,” said Anderson.

Katrina Vizinau, senior housing counselor at the Community Housing Development Corporation (CHDC), and a guest at Saturday’s panel, warns at-risk homeowners against wasting their limited funds on foreclosure rescue scams.

“There are a number of HUD–approved counseling agencies homeowners can get counseling from. And most of these agencies offer the service for free. So why pay when you’re already struggling? You may need that money to actually get into some form of agreement with your lender,” said Vizinau.

Vizinau also encourages home buyers, owners and renters to get educated on the issues.

“A lot of the legislation coming out is very vague,” said Vizinau. “It’s only going to help a handful of individuals, and in order for more assistance to come to them, [people] need to understand what exactly is being voted on and really advocate for themselves. Because nobody else is going to do it for them—not to the degree they can do it.”

Predatory Lending Prevention and Foreclosure Intervention Workshop
Sat., Oct. 25, 1-4pm. Emeryville Senior Center, 4321 Salem St. Free. Guests are encouraged to pre-register to speak with a housing counselor. For more information contact Janet Anderson at janderson@emeryville.org