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Dollar Bank Announces its Ninth Annual “Mortgages for Mothers” Workshop - Pittsburgh

March 19, 2008

Teaching Hundreds to Prepare Properly for Homeownership

Given the large number of borrowers who were lured into sub-prime loans and now may be facing foreclosures, it’s more important than ever for would-be homeowners to understand the proper way to prepare to buy a house. That’s the belief of Mona Generett, Dollar Bank’s Vice President of Community Development and the designer of the bank’s Mortgages for Mothers Seminar scheduled for Saturday, March 29, 2008 at the Sheraton Station Square Hotel.

"The combination of aggressive sub-prime lenders plus borrowers anxious to become homeowners may have led many into a bad loan that they couldn’t afford," explained Generett. "For the past nine years, Dollar Bank has been holding these free seminars to explain to potential borrowers the complexities of the mortgage process and to help them design a plan to buy a house within their means and to obtain a mortgage that they can afford."

"For more than a dozen years," Generett continued, "we have helped over 2000 would-be borrowers understand and resolve their credit problems so they can confidently buy a home."

Now in its ninth year, the Mortgages for Mothers seminar usually attracts more than 300 female heads of households looking to buy a home.

Attendees will learn about the various mortgage loan programs available to them and come to understand the importance and power of credit. They will even get a chance to discuss their individual credit reports with a credit professional.

A highlight of the workshop will be inspirational presentations by new homeowners, who overcame their own problems with the help of Dollar Bank's credit counselors and obtained a mortgage. KDKA TV's Lynne Hayes-Freeland, a single mom herself, will moderate the session.

"Mortgages for Mothers" is only one part of Dollar Bank's efforts to provide special help to those would-be borrowers who have special needs. Workshop attendees will be encouraged to continue working with Dollar Bank homeownership counselors. Assistance includes educational classes, private credit restoration counseling sessions, special savings programs and other informational and motivational group sessions.

The "Mortgages for Mothers" home buying workshop will begin at 9:00 a.m. on Saturday, March 29, 2008 at the Sheraton Station Square on Pittsburgh’s Southside.

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