The Star-Telegram has announced a free foreclosure prevention workshop.

Date: Saturday, November 7, 2009.

Time: 9am – 2pm

Location: Dallas Convention Center, 650 S. Griffin St.

The workshop is designed to help homeowners facing foreclosure discover their options for preventing foreclosure .  Homeowners will also have an opportunity to meet with their mortgage servicing company and/or a housing counselor to discuss their situation. The workshop is sponsored by the Hope Now Alliance, the Obama administration’s Making Home Affordable Program, NeighborWorks America and the city of Dallas.

BEWARE: Some foreclosure prevention workshops may not present you with all of the facts. Make sure that you get information from several, unrelated sources before making your decision about what to do about your foreclosure. Also note that some foreclosure prevention specialists may not mention all of your options, especially your bankruptcy option.  Bankruptcy stops foreclosure immediately, gives the borrower more leverage when negotiating with lenders; and it doesn’t increase the profits of mortgage lenders and servicers. So there isn’t much motivation for them to mention your bankruptcy options.