ClearPoint Mobilizes Foreclosure Prevention Effort in California’s Hardest-Hit Communities

– Effort to Help 1,000 California Families Avoid Foreclosure Receives $200,000 Boost from Wells Fargo –

FRESNO, Calif.--(BUSINESS WIRE)--Homeowners in the Central Valley who are facing financial difficulties may find solutions through a new effort announced today to help 1,000 California families to stay in their homes. California's Central Valley region is one of the country’s hardest hit foreclosure areas, with 7,816 default notices issued in August, accounting for 25 percent of the state’s total, according to public data.

“The housing crisis has touched the lives of us all”

In response, ClearPoint Credit Counseling Solutions and Wells Fargo announced plans today to help 1,000 families avoid foreclosure after bringing together area housing representatives, local officials, and homeowners for a summit on preventing foreclosures in the Central Valley. Homeowners wishing to access ClearPoint's services should call toll-free 877-877-1995.

The parties met on the morning of Tuesday, Sept. 28 at ClearPoint’s offices in Fresno, 4969 E McKinley Ave, to discuss the value of public and private support for non-profit housing counseling programs serving local families.

“The housing crisis has touched the lives of us all,” says ClearPoint’s Pacific Region President Martha Lucey. “It’s up to each of us to take an active role in helping our friends and neighbors through these difficult times.”

Key to this foreclosure prevention summit are the voices of area homeowners who are being helped by non-profit housing counseling programs available from agencies like ClearPoint.

“I’m grateful to receive assistance from ClearPoint,” said homeowner Pablo Tapia of Fresno. “I have been struggling with my mortgage and now I feel that I can finally get a resolution with ClearPoint’s guidance and suggestions.”

Focusing on the present and future needs of Central Valley homeowners, Wells Fargo is taking bold steps to support consumer education and homeownership preservation efforts for local residents. California-based Wells Fargo, which has modified 532,600 mortgages nationwide since January 2009, made a $200,000 commitment to support ClearPoint Credit Counseling Solutions efforts to provide counseling and education programs for Central Valley homeowners.

“Wells Fargo is making this $200,000 grant to support ClearPoint in assisting 1,000 families avoid foreclosure in California’s hardest-hit communities including the Central Valley,” said David Galasso, Wells Fargo’s Central California regional president. “Wells Fargo is committed to helping our customers and communities become more financially successful.”

The state of the local economy, fueled by record unemployment, has kept foreclosure on the forefront of ClearPoint’s housing counseling initiatives in California. Individual counseling is accompanied by group workshops designed to educate and promote sustainable homeownership. Housing counseling provided by ClearPoint is approved by the U.S. Department of Housing and Urban Development (HUD) and offered at no cost to consumers. In order to maintain this service, ClearPoint relies on a diverse mix of funding that places an emphasis on serving the most urgent needs. Homeowners wishing to take advantage of ClearPoint's services should call toll-free 877-877-1995.

“By making this commitment, Wells Fargo is demonstrating the highest ideals of good corporate citizenship,” said Martha Lucey, Pacific Region President for ClearPoint.

With the most recent commitment, Wells Fargo has supported ClearPoint with $480,000 in donations over the past four years, including a $100,000 contribution last year that served hundreds of Central Valley residents with foreclosure prevention counseling.