"The key message on the night was - don't wait until it is too late to seek help," Mr Clare said.
"If you are struggling to keep up with your mortgage repayments talk to your bank or a financial counsellor.
"Free and independent advice is available. Good organisations like The Smith Family and Bankstown based NGO Creating Links can help with free financial advice and help you learn to budget.
"If you have received a default notice from the bank you have to act quickly. You only have 30 days before the bank can take you to court and repossess your home. If you get one of these notices please contact Legal Aid or the Consumer Credit Legal Centre straight away," Mr Clare said.
Another issue that was raised on the night was - is it is a good idea to use your superannuation to help pay the mortgage.
The panel of experts agreed that is only a good idea in very limited circumstances. Before doing this you should seek independent financial advice.
The Housing Stress Information Night was organised by Jason Clare MP, the Federal Member for Blaxland.
"A lot of people are doing it really tough here. More homes are repossessed in our local community than any where else in Australia.
"That's why I organised this information night. To help people doing it tough. To provide real practical advice. I hope it helps to save a few homes.
"This is the sort of thing politicians should do," Mr Clare said.