Acorn’s Running Of Free Classes Helps To Rein In Foreclosures

April 22nd, 2008

Across the nation the foreclosure figures are staggering but Houston has a different story to tell. Foreclosures here are actually down by 16%. In all probability a large slice of the credit goes to Acorn. Its running of free classes has helped to rein in foreclosures. Across US 234,000 houses had slipped into foreclosures.

When Tasha Bowen had taken her house loan, the mortgage company had assured her that in two years the value of the house would rise and she would be able to refinance. Unfortunately that promise has been broken by the chain of events. The mortgage lenders look on helplessly as the real estate market tumbles. Today experience has taught her to be real estate agent herself. At one time she had nearly lost her house to foreclosure. The monthly payments rose from $869 to $1,200 within 6 months. Then it rose to $1,600 and is now $2,400. Today she has become a financial expert and gives free advice. It is part of Houston Real Estate Association’s housing fair. She had to start from the basics. People need to be taught the nitty-gritty of finances.

Many experts opine that this talking has done a lot of good and is one of the reasons behind the falling of foreclosure and repo homes numbers. ACORN too is holding similar classes and gives out special warnings about scams. There are many pseudo experts who charge fees for help but ultimately they do nothing but line their own pockets. Foreclosures always have the last laugh. ACORN insisted that the people should always seek help from local fairs and bonafide housing organizations.

The Association of Community Organizations for Reform Now (ACORN) is one of the largest racial bodies with 175,000 families subscribing to it. It has more then 850 centres in 70 cities of US. It maintains close links with organized labour and deals with vote related frauds. Recently it has become active in the foreclosure issue. It is a political organization having grass root contacts from the 1960’s. With passage of time it changed its name. Its support base is the modest income and working class people. ACORN supported Hillary Clinton in the 2000 Senate race. In 2003 it condemned the Iraqi invasion by US. ACORN also focuses on housing activities and puts pressure on the administration to turn over vacant houses to the needy.