Wisconsin Moves Forward to Address Foreclosures
On March 13, 2008, the Federal Reserve Bank of Chicago, the University of Wisconsin Extension, and Wisconsin Housing and Economic Development Authority will cosponsor a conference entitled, "Wisconsin Moves Forward to Address Foreclosures."
Participants can learn from experts who will share their leading ideas and best practices/models for addressing the issues and concerns surrounding Wisconsin's increasing number of foreclosures. This day long conference features: a regulatory update; a presentation on surging inequality and the rise in predatory lending; and three concurrent education training sessions that will delve extensively into loss mitigation, the foreclosure litigation process, and mortgage rescue fraud scams and schemes. Mr. Thomas James, Senior Assistant Attorney General of the State of Illinois, has been invited to provide the keynote address. The afternoon provides an opportunity to use your own expertise to engage the problem of foreclosures, as three task forces are helping to build an effective community response. Here, participants will have the opportunity to engage in this action-oriented process that will be facilitated through task forces made up of attendees. New participants are welcome to attend throughout the day and encouraged to join a task force, if you are interested. The three task forces are:
Options and Outreach Task ForceWorking together to provide appropriate, timely, quality information to Wisconsin consumers about their options when facing delinquency and the potential foreclosure of their home.
Stabilization & Maintenance Task ForceSolutions for creating and implementing a solid, post-purchase program for Wisconsin homeowners that will help stabilize the homeowner's financial position and assist with the long-term maintenance of their home.
Financial Options & Strategies Task ForceExploring what additional short and long term financial options and strategies may be needed in Wisconsin to complement existing solutions to prevent foreclosure.
Conference participants will be comprised of: community development professionals, financial industry practitioners, bankers, attorneys, economists, housing experts, secondary market specialists, policymakers, researchers, academics, and representatives of government agencies and foundations. Licensed attorneys please note that we are applying for Continuing Legal Education credits for major portions of the conference agenda and you will be notified about the availability of CLE credit, if applicable.
This two–part training (full training includes both the AM and PM sessions) is targeted to mortgage counselors and dispels myths, provides the lenders perspective and outlines the available solutions.