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CBANA Will Co-sponsor Housing Advice Session for 38111 Residents University News
For release: January 27, 2010

For press information, contact Tk Buchanan, 901-486-3479

The Sherwood Forest Neighborhood Association will host a day of housing counseling and legal aid Saturday, Feb. 6, from 9 a.m. to noon at Prescott Memorial Baptist Church, 961 Getwell Road.

The Memphis Housing Counseling Network will work with homeowners in the 38111 Zip Code area to help renegotiate the terms of their loans and try to keep them in their homes.  Also, representatives from Memphis Area Legal Services will be on hand to offer advice to those whose lenders are uncooperative or who face imminent foreclosure, to field any other legal questions neighbors may have, and to assist them with the preparation of simple wills and advance directives.

A recent study by the Center for Community Building and Neighborhood Action at the University of Memphis found disturbing trends in housing in the area. In the 38111 Zip Code area in 2009, 587 households received notification from their lenders of intent to foreclose. However, foreclosure is only part of the story. Vacancy in Sherwood Forest is driven as much by probate problems as by foreclosure. As the population in the neighborhood ages, estate planning becomes more important than ever. The failure to legally communicate these difficult decisions accounts for a large part of the vacancy crisis. There are 54 vacant homes in the area.

Sponsors for this event are the U of M Center for Community Building and Neighborhood Action, the Sherwood Forest Neighborhood Association, Tennessee State Rep. Mike Kernell, the Memphis Housing Counseling Network, and Memphis Area Legal Services.

More information is available from Andrew Glisson, president of Sherwood Forest Neighborhood Association, at 901-652-1792 or AGlisson@lpinsurance.com,, or from Tk Buchanan at the Center for Community Building and Neighborhood Action, at 901-486-3479 or tbuchann@memphis.edu


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