Currently one out
of every 118 homes in the Memphis area is facing a foreclosure. Some
people simply bought more house than they could realistically afford;
many fell victim to predatory lending and the subprime mortgage market;
while others found themselves unable to make their monthly mortgage
payments due to unemployment or reduced wages.
The paths leading to foreclosure
vary, but the end result is almost always the same — community
blight. Foreclosures decrease surrounding property values, increase
crime and vandalism, cost businesses profits, increase municipal
costs, and strain the social services of our community. Foreclosures
in our current economic climate do more than place a single family
in crisis, they place our community in crisis.
This summer, WKNO is one of 32 public broadcasting
stations (including both PBS & NPR stations) participating in a national public education initiative, Facing
the Mortgage Crisis, originated by KETC in St. Louis. Identified
as one of the top 32 foreclosure markets in the country, Memphis
and the Mid-South has many families at risk. As a trusted provider
of news and information, WKNO has assembled a community advisory
panel and will be providing local viewers with information and resources
to help them weather this economic downturn.
Join WKNO for It Matters:
Facing the Mortgage Crisis, a one-hour panel discussion
that will explore the scope of the mortgage crisis in Memphis and
Shelby County. Community leaders, industry experts, housing counselors,
and representatives from area non-profit agencies will discuss
how we arrived at this point, where you can go for help if you’re
facing a foreclosure, what you can do to protect your investment
in your home, and what we must do as a community to stabilize our
neighborhoods.
Additional information about the
mortgage crisis will air on this month’s The Best Times,
when Cris Hardaway focuses on topics of special concern to people
age 50+. WKNO-FM 91.1 will also be airing a series of reports about
Memphis and the mortgage crisis.
People looking for information and
help will be able to go online and find an easy-to-use directory
of organizations that can provide personal consulting and assistance
to those in danger of losing their homes. A series of public service
spots will air on WKNO/Channel 10 outlining some basic concepts and
terminology people need to know, and point them to community resources.
It Matters: Facing the Mortgage
Crisis premieres Wednesday, July 29 at 9:00 p.m., and
repeats Friday, July 31 at 8:00 p.m. It is sponsored locally by Memphis
Daily News. |
