Housing Resource Fair Scheduled Saturday in Los Al

From a press release:

The Orange County Housing Opportunities Collaborative will host a Housing Resource Fair open to the public Saturday in Los Alamitos.

An expanding number of Southern California homeowners are facing unaffordability and default of their second mortgages as their interest rates begin to jump.

One Orange County counseling agency said they have seen a jump in borrowers looking for help in dealing with increased monthly payments that can occur after a loan matures. “We’re starting to see more and more people facing problems paying their home equity lines of credit (HELOC), and we want to make sure people know that they have options in dealing with their situation,” said Connie Der Torossian, Program Manager at the Orange County Housing Opportunities Collaborative (OC HOC), a non-profit housing counseling organization.

The concerns come after a study from TransUnion Corp. revealed $50 billion to $79 billion of HELOC balances held by U.S. consumers could be at elevated risk of default in the next few years. As these loans mature, borrowers could face higher monthly payments.

OC HOC will host a Housing Resource Fair open to the public on:

Date: Saturday September 6, 2014

Time: 9am to 1pm

Cost: FREE

Location: Los Alamitos Joint Forces Training Base

Veteran’s Center Parking Lot, Los Alamitos JFTB

11206 Lexington Dr. Los Alamitos, CA 90720