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Sun, Nov 22 2009 

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Business roundup

The Norman Transcript

The Oklahoma District Export Council, in conjunction with the Oklahoma U.S. Export Assistance Center and the Oklahoma Department of Commerce, will sponsor a full-day exporting workshop Wednesday.

The event will give participants a basic guide to exporting. Cost is $35. Presenters include international bankers, attorneys, business practitioners and international trade specialists.

More information is available by calling 608-5302.

Native Roots open house

Native Roots Market will host a grand opening party in conjunction with the state’s Centennial celebration. The event will be 7 to 9 p.m. Friday at the market, 132 W. Main St.

Guests are invited to sample foods and beverages and meet the farmers who grow Oklahoma products. Live music will be performed by local artists.

Fend off foreclosure

NEW YORK — Foreclosures more than doubled over the past year, thanks in large part to the subprime lending crisis. And with monthly payments set to increase on 2 million mortgages over the next 18 months, things may get worse before they get better, warns Nick Jacobs of the nonprofit National Foundation for Credit Counseling.

When faced with the possibility of foreclosure, many people are paralyzed by fear. But it’s important to contact your lender as soon as possible to discuss your options. If a lender believes you are acting in good faith, it will often work with you to find an alternative payment schedule.

But your chances of getting assistance go way down after you’ve missed three or four payments, warns the Federal Trade Commission.

If you’re having trouble making mortgage payments on your home, you may consider the following alternatives to foreclosure:

• Repayment plans. If you haven’t missed many payments, you can ask your loan holder to allow you to pay off the money bit by bit, adding a portion of the past due amount to your regular payments.

• Reinstatement. If you’re experiencing a temporary shortfall of cash, your lender may offer you a fixed amount of time to pay off the past due amount. But be aware that you’ll also be responsible for covering any late fees and penalties you’ve incurred.



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