Foreclosure, predatory lending to take center stage at north Minneapolis town hall forum
August 07, 2012
For Immediate Release
MINNEAPOLIS, MN – Over the last seven years, more than 136,000 Minnesota homes have gone into foreclosure – and Minnesota isn’t out of the woods yet. Last month, one out of every 902 Minnesota households received a notice of foreclosure. North Minneapolis residents, more than others, have felt firsthand the devastating impacts of the nation’s housing crisis.
That’s why Commerce Commissioner Mike Rothman and Congressman Keith Ellison are teaming up tomorrow night for a town hall forum on predatory lending and foreclosure in north Minneapolis. The forum, which is free and open to the public, will be held at Neighborhood Hub (3210 Oliver Avenue North) on Wednesday, August 8 from 6:00pm – 8:00pm.
Commissioner Rothman and Congressman Ellison will take testimony from north Minneapolis residents whose lives, finances, and neighborhoods have been adversely affected by predatory lending tactics. The forum will include a discussion about information and resources available to help Minnesota consumers make informed financial decisions, safely modify their home loans, identify scams, and avoid foreclosure.
Wednesday’s forum is an extension of the Commerce Department’s ongoing work in the area of financial literacy and consumer protection; providing information and resources to empower Minnesota consumers to make well-informed financial decisions.