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Hit by recession? Help is here
Some are calling it the "Great Recession." Anyone affected by the economic downturn knows it's not so great.
For those who need free legal or financial advice, Washington County Bar Association is offering a program called "Get Help Now Pennsylvania" twice a week at the George Washington Hotel, 82 S. Main St., Washington.
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Kathy Sabol, executive director of the Washington County Bar Association, said 10 people have stopped by to discuss legal and financial matters with volunteers. As soon as she put out the word for legal volunteers, lawyers immediately offered their services for the sessions.
Gary Sladick, assistant vice president of loan counseling for Washington Federal savings bank, said something a person who's going to miss a mortgage payment can request of a lender is "forebearance."
"We can lower a payment for up to 12 months if they lost income or if they have a medical condition," Sladick explained.
The key, however, is to notify the lending institution immediately, Sladick said. One person who came in to discuss her mortgage payments was already two months behind. Her interest rate was in the 10 percent range. Rates for qualified home buyers are now in the 5 to 6 percent range because of a drop in the prime rate.
Sladick might be characterized as an eternal optimist, but he has witnessed the boom-and-busts cycle over the length of his career.
"I've been in this for 40 years," Sladick said. "In the 1980s, interest rates were at 20 percent, and you had to get in line to buy gasoline.
"At 20 percent, people were buying nothing. At that rate, you can't even buy a car - a used car. Everybody thought the world was coming to an end when interest rates were 20 percent, and we got through that.
"People have to feel secure with the country and the economy. What goes around comes around. We'll be OK."
Another woman who sought help last week was seeking legal rather than financial advice. Did she get some answers?
"Absolutely," said the woman, who declined to be identified because of the nature of her consultation. "I had some legal questions. I don't have to worry about my decision from fear of something happening. I can breathe again."
Attorney Marilyn Gilman said in addition to problems with housing and financial assistance, local volunteers for "Get Help Now Pennsylvania" can direct people to credit counseling services, food assistance, emergency shelter, medical assistance, prescription drug assistance, rental assistance, utilities and drug and alcohol counseling.
Gov. Ed Rendell announced the program in late June.
"It was President Obama's idea," Gilman said. "He approached the governor. It's to help people who have lost jobs, who are having homes foreclosed and who have debts they can't pay.
"We're in hard times. We're trying to help you survive."
Those coming in for help don't need to make appointments. They'll be seen on a first-come, first-served basis. Greene and Fayette County residents can seek help in Washington, Westmoreland or Allegheny counties.
One of the first clients who came to the center in the George Washington was from Greene County, Sabol said.
Anyone who would like more information can call 888-799-4557 or visit the link http://www.pa.gov.
Get Help Now PA is a collaborative effort of Pennsylvania Bar Association, Pennsylvania Bankers Association, Pennsylvania Credit Union Association, Pennsylvania Association of Community Bankers, Mortgage Bankers Association of Pennsylvania and Pennsylvania Association of Mortgage Brokers, Pennsylvania Financial Services Association, the Office of the First Lady and Pennsylvania Department of Banking.
The program culminates Sept. 11 in a national day of service and remembrance.
Think about it .... : 7/17/2009
There are some who could get their own hands out of their pockets and stop the corruption. Greed destroys everything in the end.
