MIAMI (CBSMiami) – Homeowners who are struggling to pay their mortgages or who are facing foreclosure may find help at a free event in Miami on Wednesday.

The Help for Homeowners Community Event will be held at the James L. Knight Center, 400 SE 2nd Avenue through 8 p.m.

It’s sponsored by the Obama Administration’s Making Home Affordable Program, HOPE NOW Alliance and NeighborWorks America.

During the event struggling homeowners will meet face-to-face with representatives of their mortgage company and a HUD-approved counseling agency to work on a solution to help them stay in their home.

Only a fraction of those who apply for help will succeed.  Approximately 100,000 homeowners across the state have benefitted from the program.  The program is only available to homeowners who are behind on their payments and in danger of foreclosure.

Options presented by bank representatives include refinancing at a lower interest rate or extending the length of the loan which lowers the payment.

Homeowners planning to attend should Click Here to see what documents they need to bring.