Associated Press: Nancy Pelosi kicks off foreclosure prevention workshop

San Francisco, CA (AP) — Speaker of the House Nancy Pelosi spoke Saturday to residents of a San Francisco neighborhood that was hit hard by the home foreclosure crisis, telling them it’s a challenge they don’t have to face alone.

‘This is a challenge to the country’s economy and to a large number of people,’ she said. But the problem needs to be taken care of ‘one family, one homeowner at a time.’

That’s what dozens of volunteers from local non-profits were trying to do as they sat down with residents that flocked to the workshop at San Francisco City College’s Southeast Campus.

The workshop was one of three being held Saturday in the Bay Area. The others were in San Leandro and Santa Rosa.

Pelosi said she was glad that as she talked, she could hear the buzz of conversations between financial counselors and residents who needed help. She gave examples of efforts by local elected officials to prevent foreclosures and connect San Franciscans to banks and solid financial advice, thanking them.

The problem is affecting not only individual families, but the country’s economy as well, she said, adding that in California, one in 20 homeowners are projected to be in foreclosure in the next two years.

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