Consortium helps Mississippi residents who are in foreclosure - WDAM.COM - TV 7 - News, Weather and Sports

Consortium helps Mississippi residents who are in foreclosure

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HATTIESBURG, MS (WDAM) -

The State Attorney General's office is holding free clinics around the state for residents who are in foreclosure.

In July Attorney General Jim Hood created the Mississippi Foreclosure Prevention Consortium as a way to assist struggling homeowners. It was created through funding from the national mortgage settlement with the country's five largest providers in the wake of the housing crisis. In the settlement Mississippi received $13.5 million. Five-point-eight million of it was allocated to create the consortium.

The free legal clinics are proving financial counseling and legal assistance to include re-financing and loan modification.

"With regard to the services that we've been providing in the past, we've been able to stop some of those foreclosures and rather than have the residents on the foreclosure track we've put them on a loan modification track," said Bridgett Wiggins, Special Assistant to the Attorney General.

A third tier to the consortium provides financial assistance to veterans who are in foreclosure.

For information about the consortium call 866-530-9572 or go to msmortagagesettlement.com.

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