2007-09-28 / Community

Councilman Sanders to Host Foreclosure Seminar

Councilman James Sanders Jr. will host a Foreclosure Seminar on October 11, 2007, at 7 p.m. An estimated 2 million adjustable rate mortgages are scheduled to reset by the end of 2008, many in the Councilman's district, going from a low introductory rate to a higher rate. Councilman Sanders will hold the seminar at P.S. 156, located at 229-02 137 Avenue, Laurelton.

Queens is the hardest-hit borough in the city, showing a 200 percent increase in the number of foreclosure filings from July 2006 to July 2007. The seminar will focus on what foreclosure is, how to avoid it, predatory scams and what your legal rights are.

"I am outraged by what is happening in my community due to predatory lenders and their unscrupulous practices. This is just phase one of our fight to aid our neighbors who have been victimized and preyed upon," Sanders said. "I urge all affected to come out to this meeting and learn how to save your homes."

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