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RISMEDIA, June 26, 2009-In response to predictions that there will be more than 400,000 new foreclosures in California this year, the Alliance for Stabilizing our Communities-led by the National Urban League (NUL), NCLR (National Council of La Raza), and the National Coalition for Asian Pacific American Community Development (National CAPACD)-with the support of Bank of America will host a free Home Rescue Fair on Saturday, June 27 from 10:00 a.m. to 2:00 p.m. at Panorama High School, 8015 Van Nuys Blvd., Panorama City, California.

Loan specialists, housing counselors, and attorneys will provide extensive on-site counseling services to California families in multiple languages to provide homeowners at risk of foreclosure with expert advice and options.

Minority communities have been the hardest hit by the economic downturn that plagues many American families. The California Home Rescue Fair, presented by New Economics for Women (NEW), is one of 34 fairs taking place in 27 communities throughout the country. They are expected to serve more than 11,000 households, helping to keep families in their homes or find the best options for them.

The Alliance for Stabilizing our Communities has received $2.5 million from Bank of America to provide:

– Additional housing counselors in local markets
– Training for new and existing counselors
– Multilanguage outreach materials to educate at-risk borrowers about their options
– A new resource guide to help communities respond to foreclosure challenges

To find out what can be done to prevent your home from going into foreclosure, call (866) 842-3391.

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