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Nancy Montoya
Federal Reserve Bank of Atlanta
525 St. Charles Avenue
New Orleans, LA 70130
Nancy.Montoya@atl.frb.org
(504) 593-3256
The Northshore is facing an increase in foreclosures, this coupled with the downturn in
the economy prompted a group of local nonprofits and their community development
partners to join together to help address the needs of homeowners.
Multiple resources will be available to residents with varying housing needs. Everyone
from a resident facing foreclosure to someone looking into the options of buying a
home will be able to meet with qualified professionals.
͞There͛s a lot of confusion out in the public about what to do if you͛re behind on your
mortgage or face a crushing increase in your monthly payments,͟ said Lauren Bartlett,
staff attorney at Southeast Louisiana Legal Services, a nonprofit organization providing
legal assistance to low-income residents.
͞People are scared of losing their biggest investment ʹ the roof over their head ʹ and
don͛t know where to turn for help or advice,͟ Bartlett said. ͞Maybe they͛ve had bad
experiences with their lender or servicer and are feeling hopeless about a resolution.͟
͞We want people who are facing foreclosure to know that the worst thing you can do is
to ignore the calls and the notices,͟ she said. ͞There͛s a whole team of experienced
counselors and attorneys that are ready, willing and able to provide good counsel and
help you through the maze of options that are available.͟
The Homeownership Resource Fair will include a general-information session that will
discuss foreclosure-prevention resources, financial and legal options available to help
homeowners prevent foreclosure. The workshop will include information on
foreclosure-prevention rescue scams, fair housing laws, and home ownership
opportunities and resources.
͞We͛re starting to see a rise in mortgage-rescue scams in our communities,͟ said Nancy
Montoya, community affairs manager for the Federal Reserve Bank of Atlanta and a
coalition partner.
͞It͛s important that homeowners know that there are many organizations that don͛t
charge up-front fees and have experience and training in resolving complicated
foreclosure problems,͟ Montoya said. ͞That͛s why the task force involved in helping to
coordinate events like this that can help save somebody͛s home.͟
Agencies conducting the Homeownership Resource Fair include Fannie Mae, LSU
AgCenter, Federal Deposit Insurance Corporation, Federal Reserve Board, Southeast
Louisiana Legal Services, Money Management International, Life Impact and the Greater
New Orleans Fair Housing Action Center.
For more information or to find a non-profit counselor in your area please call Shawn at
(985) 845-0202.
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