DETROIT — A mortgage industry group agreed Tuesday to help the nation’s mayors raise public awareness about ways to avoid falling into foreclosure as part of an effort to address the nation’s housing crisis.
The agreement was announced following a meeting in Detroit organized by the U.S. Conference of Mayors and attended by mayors from across the country. The Mortgage Bankers Association also plans to help cities get access to information on homes in foreclosure to ensure those sites don’t blight neighborhoods.
“The foreclosure crisis has the potential to break the backbone of our economy,” Trenton, N.J., Mayor Douglas Palmer, president of the mayors group, said following the meeting.
The National Forum on Homeownership Preservation and Foreclosures was closed to the media, but mayors said progress was made. The mayors plan to discuss the housing crisis again in January.
“People came to the table, and it wasn’t very nice all the time,” said Detroit Mayor Kwame Kilpatrick, who hosted the meeting. Representatives of community groups and the mortgage industry were in attendance.
Paul Richman, senior director for government affairs for the Mortgage Bankers Association, said a camera crew will go to the January meeting to allow mayors to tape public service announcements. The spots will help publicize a toll- free number that homeowners can call for help.
