Jan 5, 2008 6:00 pm US/Central
New Counseling Service Aims To Curb Forclosures
MINNEAPOLIS (WCCO) ―
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SHARC is a center for one-on-one home loan counseling which aims to curb home foreclosures.
AP
People in trouble with their home loans have a new place to turn go for free advice. The Urban League has teamed up with ACORN Housing Corporation to open SHARC, a center for one-on-one counseling.
SHARC is an acronym for Sustainable Homeownership and Anti-Foreclosure Response Center.
"We're going to take a bite out of foreclosures in North Minneapolis," said Sharon Morgan Spencer of the Minneapolis Urban League.
In 2006, there were 700 foreclosures in the Jordan and Hawthorne neighborhoods. In 2007, that number more than doubled to 1,500. ACORN Housing estimates that 3,500 high cost loans made in 2006 will end in foreclosure.
SHARC serves all of Minnesota but is located in North Minneapolis.
"Because of the problems in North Minneapolis we wanted to bring these resources into the community," said David Oguamanam, director of the Minneapolis Urban League Housing Stability.
The telephone to contact SHARC is (612) 827-9299. The center is in the Urban League Headquarters at Penn and Plymouth in Minneapolis.
"The earlier you come in the better," said Alexa Milton of ACORN Housing Corporation. "But I don't want people to think, 'I've waited too long, they won't be able to do anything for me,' because there are a lot of options out there."
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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