Florida Catholic | Foreclosure Looming? Catholic Charities Can Help

Kathy Abbarno of Sarasota receives foreclosure and financial advice from Richard DiGiogio, a housing counselor with Manatee Community Action Agency, during a May 17 homeownership and debt management fair at Catholic Charities of Manatee County.

BOB REDDY | FC
Kathy Abbarno of Sarasota receives foreclosure and financial advice from Richard DiGiogio, a housing counselor with Manatee Community Action Agency, during a May 17 homeownership and debt management fair at Catholic Charities of Manatee County.

Foreclosure looming? Catholic Charities can help

Debt and foreclosure counseling services are available through Catholic Charities.

BOB REDDY | FLORIDA CATHOLIC VENICE BUREAU EDITOR

Published: 06.06.08

BRADENTON | Kathy Abbarno needed some advice – advice that may prevent her from losing her home.

Abbarno was one of more than a dozen people who participated in an all-day fair for homeownership and debt management at the offices of Catholic Charities of Manatee County.

“I just need to know what to do, because I have no idea,” the Sarasota resident said.

Abbarno is one of many people who bought a home with an adjustable-rate mortgage when interest rates were low and the economy was robust. However, she was recently hit with increased interest rates. She has tight finances, and the bank has been unwilling to renegotiate her mortgage. “I’m a month behind and am afraid I will lose everything,” she said.

Abbarno is not alone, said Catholic Charities program director Iraida Contreras.

The number of people coming in for help has increased dramatically in recent months. In 2007, only 19 clients came for financial advice. In the first four months of 2008 – not including the fair – 13 clients came for help and many were desperate.

For more information about home ownership, foreclosure and debt management counseling services, please contact Catholic Charities of Manatee County at
941-714-7829.

“Today, we just wanted people to come talk to us. We wanted them to get over the embarrassment and admit they need help,” Contreras said.

There were four counselors available to help, including three who are bilingual in Spanish and English.

The counselors exchanged some basic information with those who came and will follow up with a one-on-one consultation as different options are explored.

Two banks, Bank of America and Washington Mutual, sent representatives to offer advice.

Catholic Charities volunteer financial counselor Linda Landinez said the collapse in property values and increasing taxes have hit families hard, many of whom bought their homes with minimum credit.

“They really got caught up in the moment,” Landinez said. “They bought a home with no savings and any problems have hit them hard. There are options of trying to refinance to a better interest rate, but that isn’t usually an option for someone who misses payments.”

Unfortunately, many of the people who came for help are several months behind in their payments and are close to being evicted.

“There is little we can do for them at that point,” Landinez said. “Waiting, or ignoring the problem will limit any options you have. Act early and the banks and mortgage companies will work with you.”

Richard DiGiorgio, a housing counselor with Manatee Community Action Agency, joined the Catholic Charities counselors for the service fair.

“We are learning how bad off they are first before we offer any advice,” DiGiorgio said, noting that he needed to ask about all income and bills each family is dealing with on a monthly basis. “There are programs for each level of need. It is a matter of getting them help or helping them transition from ownership to renting.”

For seniors in financial trouble, there are more options and programs available to avoid homelessness.

Contreras said Catholic Charities of Manatee County has several programs to help people in all stages of need, from simple advice and paperwork to helping them with their deposit on a new apartment when that is needed. The counselors will even work directly with the banks to figure something out, if that is possible.

“We are more hands-on than most places that offer help,” Contreras said. “If we just tell them to call, they may not ask for the right person or ask the right question and they will be nowhere. We are trying to help in the best way that we can. We just need people to know that we are here to help. We want to help.”

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