SILICON VALLEY’S AFFORDABLE HOUSING WEEK CALENDAR OF ACTIVITIES

Join in the many activities during Silicon Valley Affordable Housing Week!

May 13 – 18, 2013 is Affordable Housing Week in Santa Clara County.
Join supporters of affordable housing for panels, tours, presentations and discussions in Santa Clara County – part of the Bay Area’s Affordable Housing Month.

Click on “contact” links below to email or RSVP.

For the most up-to-date information on times for the events below, please visit the website for the Housing Trust, Silicon Valley.

Activity calendar coordinated by Housing Trust Silicon Valley, the City of San Jose,
Santa Clara County and Silicon Valley Leadership Group.

Pre-Event: Thursday, May 9, 2013
5:30pm to 9pm Cities Association of Santa Clara County hosting General Membership Meeting on “Affordable Housing for our Workforce: Can a Regional Approach Lead to Innovative Opportunities?” sponsored by Microsoft, in collaboration with American Leadership Forum, Charities Housing, Housing Trust Silicon Valley, Joint Venture Silicon Valley, Silicon Valley Leadership Group, Tri-County Apartment Association. Location: Microsoft, 1065 La Avenida, Mountain View, CA 94043. Contact: RSVP by May 3rd to raania.mohsen@citiesassociation.org. Agenda: Reception & Tour of Microsoft Technology Center 5:30 – 6:30; Dinner & Program 6:30 – 9:00.


Monday, May 13, 2013
5pm to 7pm EVENT: FAIR — West Valley Community Services (WVCS) is hosting an Affordable Housing Fair with various vendors, apartment complexes, and City Housing Staff to provide current and future residents housing program opportunities and other resources within the Santa Clara County community. Location: Cupertino Community Hall, 10300 Torre Ave., Cupertino, CA. Contact: Saron Savoy, sarons@wvcommunityservices.org


Tuesday, May 14, 2013
3pm EVENT: DISCUSSION — Community Technology Alliance will present data regarding homeless individuals in permanent housing from the Help Management Information System. We will lead a discussion among attendees about using this information to develop a coordinated assessment system to efficiently direct homeless individuals to the most appropriate housing intervention. Location: 1671 The Alameda, San Jose. Contact: Jen Padgett, jpadgett@ctagroup.org


Wednesday, May 15, 2013
9am to 10am EVENT: TOUR — The Habitat for Humanity Home Tour is an affordable housing tour at our recently completed Humboldt & Vine project in San Jose. Participants can learn about affordable homeownership, the Habitat for Humanity model, and our expanded services to address broader community needs. This home features sustainable and “green” materials and appliances to help keep the home affordable for the family in the future. Location: 260 West Humbolt St., San Jose CA. Contact: Megan Fitts, MFitts@HabitatEBSV.org


11am EVENT– TOUR ROEM Development Corporation, Housing tour of a newly constructed 51-unit 100% affordable family project in the heart of Downtown Mountain View. Project amenities include community room, homework and computer room, courtyard with bbq and tot-lot, bike storage, solar PV, and LEED for Homes certification at Gold level. Showcase newly completed affordable development with green and sustainable features. Location: 135 Franklin Street, Mountain View. Contact: ttran@roemcorp.com


Thursday, May 16, 2013
5pm EVENT: TOUR — South County Housing, Housing Tour. Join us for a housing tour of the first development in southern Santa Clara County dedicated to providing permanent housing for chronically homeless individuals. The Gilroy Sobrato Apartments provide 26 studio units and service space as well as case management. Operations are funded largely through a capitalized subsidy from the MHSA program and HUD McKinney funds. Location: Gilroy Sobrato Apartments, 9389 Monterey Rd., Gilroy, CA. Contact: Andy Lief, andy@scounty.com


6pm EVENT: HOMEBUYER EDUCATION — Neighborhood Housing Services Silicon Valley. NHSSV’s HomeBuyer Opportunities Orientation (HOO) offers future low to moderate income earners an overview of affordable & local Below Market Rate HomeOwnership Programs & available financing for First Time HomeBuyers. HOO attendees will learn the basics on BMR eligibility and how to take the first step in their home purchase process. Location: Wheeler Manor, South County Housing, 651 W. 6th Street (Community Room) ADA Accessible, Gilroy, CA. Contact: Teresa Martinez Gonzales, tmartinez@nhssv.org. 408-579-6565.


7pm to 9pm EVENT: FILM SCREENING — Housing Trust Silicon Valley, “American Winter” film screening. See the award winning documentary currently playing on HBO that follows six American families who have fallen from the middle class into poverty. Question and answer session with Director Joe Gantz and Co-producer Aaron Butler immediately following the screening. Location: Camera 12, 201 S. 2nd St., San Jose, CA 95113. Free event, $10 donation suggested. Reserve your seat at: http://htsvamericanwinter.eventbrite.com Contact: Stephanie Lahat, stephanie@housingtrustsv.org


Saturday, May 18, 2013
8am to 1pm EVENT: TOUR — Silicon Valley Leadership Group Housing Action Coalition, Milpitas Affordable Housing Tour, Key Note Speaker: Hon. Dave Cortese. Tour of four affordable housing communities. City staff and developer representatives will provide through direct conversations insight during the tour regarding the challenge and benefits of building affordable homes. Attendees will consist of community advocates, city staff, elected and appointed officials from throughout Silicon Valley. Location: City of Milpitas. Contact: Sandra Escobar, sescobar@svlg.org. Register: milpitasaffordablehousingtour2013.eventbrite.com Fee: $10, includes breakfast & lunch.


9am to 12pm EVENT: WORKSHOP — Housing Trust Silicon Valley, SurePath Financial Solutions and ACE Hassett Hardware. Post-Purchase Education workshop. Financial and maintenance tips for new homeowners, including live maintenance demonstrations. Location: Willow Glen Community Center. Free event, space is limited. Contact: adria@housingtrustsv.org to reserve your seat.


11am to 1pm EVENT: HOMEBUYER EDUCATION — NHORA of Santa Clara County. Live seminar to explain the important steps to buying a house, the down payment assistance programs available in Santa Clara County, the loan pre-approval process and the best way to go about making offers in this changing market. Location: Mayfair Community Center, 2039 Kammerer Ave., San Jose, CA. Contact: Jorge Zegarra, jorge@homesolutions.me


Litton and Saxon Mortgage Servicing Customers will Start to Receive Checks from Foreclosure Review Settlement on May 3rd, 2013

A press release from the Federal Reserve today states that checks will start being mailed out on May 3rd, 2013 for homeowners who had their loans serviced by Litton Loan Servicing (owned by Goldman Sachs) or by Saxon Mortgage (owned by Morgan Stanley) and who fit the eligibility criteria for the agreements with these two mortgage servicing companies.

Similar to the Independent Foreclosure Review, there are different categories that homeowners (and former homeowners) are being placed into, based on how serious or illegal the error was that the companies made.  You can view the chart here:  Independent Foreclosure Review Payment Agreement for Goldman Sachs and Morgan Stanley

In the vague language that we have seen throughout this process, the press release notes:

In some cases, the payment amounts for Goldman Sachs and Morgan Stanley borrowers differ from those received by borrowers in the same categories with the other 11 servicers. The amounts differ because borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley were not able to request a review of their foreclosure file.

Matt Taibbi has written a scathing piece about the Independent Foreclosure Review in Rolling Stone Magazine (4/26/2013): While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion. 

Now it comes out that not only were these consultants not so independent, not only did they very likely skew the numbers seriously in favor of the banks, and not only were these few consultants paid over $2 billion (over 20 percent of the entire settlement amount) while the average homeowner only received $300 in the deal – in addition to all of that, it appears that federal regulators will not turn over the evidence of impropriety they discovered during these reviews to homeowners who may want to sue the banks.

Last week, we wrote that legislation has been introduced to monitor this process because the Federal Reserve and the Office of the Comptroller Currency are stone-walling requests for information about this review process from Senators.

 

Foreclosure Help is a program funded by the city of San Jose through a HUD Community Development Block Grant and the city of Sunnyvale, and we can directly assist homeowners  and tenants in San Jose and Sunnyvale who are facing foreclosure.  However, we are unable to assist homeowners/former homeowners in other cities and states.  If you need housing counseling, we suggest using the interactive map on HUD’s website.

If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Jose through a HUD Community Development Block Grant and the City of Sunnyvale at (408)-293-6000 or visit us: www.foreclosurehelpscc.org

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.

Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org or send us an email: help@foreclosurehelpscc.org.

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: www.foreclosurehelpscc.org.Nuestros consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro sitio:www.foreclosurehelpscc.org o envíenos un correo electrónico: help@foreclosurehelpscc.org.

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi: www.foreclosurehelpscc.org.

Nhân viên tư vấn của chúng tôi đã được HUD chấp thuận có thể giúp bạn đánh giá các lựa chọn của bạn, tìm hiểu thêm về các chương trình của liên bang và tiểu bang có thể giúp bạn với các vấn đề thế chấp của bạn, và sẽ giúp bạn tạo ra một kế hoạch phía trước.Xin lưu ý: Tất cả các nội dung trên Blog ForeclosureHelpSCC được cung cấp thông tin duy nhất và không nên coi là hợp pháp hoặc tư vấn thuế. Nếu bạn có bất cứ câu hỏi , xin vui lòng liên hệ với chúng tôi qua đường dây nóng: (408) -293-6000, hoặc truy cập vào trang của chúng tôi: http://www.foreclosurehelpscc.org hoặc gửi email cho chúng tôi:help@foreclosurehelpscc.org.

fair_housing_logo

FAIR HOUSING AND ANTI-DISCRIMINATION POLICY

It is the policy of ForeclosureHelp not to discriminate against any person because of that person’s race, color, religious creed, sex (gender), sexual orientation, marital status, national origin, ancestry, familial status (households with children under the age of 18), source of income, disability, medical condition or age. Color or “ethnic group identification” means the possession of the racial, cultural or linguistic characteristics common to a racial, cultural or ethnic group, or the country or ethnic group from which a person or his or her forebears originated. As required by law, we agree to take the affirmative steps needed to further fair housing.

ForeclosureHelp will consider any and all requests for reasonable accommodation in the application of its rules, policies, practices, and services, and in the use of its physical structures, in accordance with the requirements of state and federal laws. You can ask ForeclosureHelp to consider any reasonable accommodation you may have. Please consult with the Program Manager to request this accommodation.

New Federal Bill Introduced to Create Independent Monitor to Oversee Independent Foreclosure Review

On April 25, 2013, Representative Elijah E. Cummings, the Ranking Member of the House Committee on Oversight and Government Reform, introduced HR 1706, “The Mortgage Settlement Monitoring Act of 2013” that would oversee the distribution of funds from the Independent Foreclosure Review.

Our blog readers know that ForeclosureHelp has followed the Independent Foreclosure Review closely and we think some additional sunshine into how decisions were made to end the program would benefit Congress and the hundreds of thousands of Americans who have either lost their homes to foreclosure or who have experienced the mortgage modification process with their bank or servicer.  (To see our concerns with the Independent Foreclosure Review, visit our earlier post: “Seven Reasons to Postpone the Independent Foreclosure Review“)

As Senator Elizabeth Warren (D-MA) commented at a congressional hearing earlier this month, it seems contradictory to pay consultants hundreds of millions of dollars to review errors the bank made, then not use that information, and instead, have the banks and servicers decide which category of error the homeowners should be placed into.  The majority of homeowners have already received or will receive a payment of $300 under the revised settlement.

The bill is being co-sponsored by Ranking Members Maxine Waters, George Miller, John Conyers, and Henry Waxman, and Representatives John F. Tierney, Zoe Lofgren, and Jan Schakowsky.

National supporters include the Center for Responsible Lending, the National Consumer Law Center, the National Fair Housing Alliance, the National Association of Consumer Advocates, Americans for Financial Reform, National People’s Action, The Connecticut Fair Housing Center and Consumer Action.

In a press release, Representative Cummings explained: “Mortgage servicers have now admitted that they broke the law by illegally foreclosing on American families and committing numerous other abuses, but regulators refuse to provide even the most basic information about the extent of the abuses that were uncovered,” said Cummings.  “Since federal regulators now plan to rely on these same banks to determine payouts and deliver settlement funds to borrowers, we need an Independent Monitor to bring transparency and accountability to this process.”

According to the same press release, the Act would create a Monitor (appointed by President Obama) to review compliance by all parties, including not only the banks and servicers, but also the Federal Reserve and the OCC.   As a reminder, both the Federal Reserve and the OCC have rebuffed earlier requests from Representative Cummings and Senator Elizabeth Warren (D-MA) to release information about illegal procedures at the bank (like robosigning), suggesting that they are “trade secrets.”

The Monitor would also issue quarterly reports with the following information:

  • A description of the criteria and methodology used to determine eligibility for direct and indirect relief, as well as a description of due process protections for recipients;
  • Information on borrowers who receive relief, broken down by mortgage servicer and including demographic information, the level of direct compensation for similarly situated borrowers, and the number and amounts of principal reduction loan modifications and other types of borrower assistance;
  • Information on the credit given to mortgage servicers for direct and indirect compensation provided to borrowers; and
  • A list of instances in which mortgage servicers or regulators fail to comply with the terms of the settlement, and a list of actions taken by the Federal Reserve or the OCC to compel compliance.

If it’s not in the bill, we imagine that homeowners across the U.S. would also like this new monitor to ask a few questions of the Federal Reserve and the Office of the Comptroller Currency, such as:

1) Was there any thought during 2012 about possibly ending the program sooner?   Who ultimately made the decision to end the program in January?

2) What are the financial differences for banks and servicers if the Independent Foreclosure Review had continued as planned and the consultants had decided which category the borrowers should go in?   In other words, was it cheaper for the banks and servicers to discontinue the Independent Foreclosure Review?  If so, how much money did they save?

3) Is there any thought given to clawing back some of the hundreds of millions of dollars spent on consultants, considering most of their work isn’t being used, there were conflicts of interest between the consultants and the banks, there were media reports of some consultants not doing any real work while they were on the clock, and the results of their reviews are apparently “trade secrets” that can’t be made public?

4) What was the rational to only use the 2009-2010 time period for the eligibility qualifications?  Do federal regulators have proof that there was no robo-signing or illegal foreclosures before 2009 or after 2010?

5) Given the evidence that is already public about robo-signing issues and the disorganization at many servicers and banks, why isn’t there a built-in appeal process with the current program, especially for homeowners who have documented the errors that their bank committed against them?

6) Can you explain the exact process for assigning homeowners to a “category of harm?”  On what grounds are banks and servicers confident that they are assigning a homeowner to the correct category?

7) Have there been any conversations about the damage done to credit reports and scores because of improper foreclosures, and what this means for those people and their increased costs for borrowing money?

8) Were any homeowners, housing counselors, or housing advocates asked to join the conversations about this settlement when it was originally designed?  If not, why weren’t they involved in the process since they have the most direct first-hand knowledge of the issues the settlement was designed to address?

We’d love to hear other questions our readers may have for federal regulators, and if readers have experience with the Independent Foreclosure Review, they may want to call their Representative and ask them about this new legislation.

Foreclosure Help is a program funded by the city of San Jose through a HUD Community Development Block Grant and the city of Sunnyvale, and we can directly assist homeowners  and tenants in San Jose and Sunnyvale who are facing foreclosure.  However, we are unable to assist homeowners/former homeowners in other cities and states.  If you need housing counseling, we suggest using the interactive map on HUD’s website.

If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Jose through a HUD Community Development Block Grant and the City of Sunnyvale at (408)-293-6000 or visit us: www.foreclosurehelpscc.org

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.

Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org or send us an email: help@foreclosurehelpscc.org.

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: www.foreclosurehelpscc.org.Nuestros consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro sitio:www.foreclosurehelpscc.org o envíenos un correo electrónico: help@foreclosurehelpscc.org.

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi: www.foreclosurehelpscc.org.

Nhân viên tư vấn của chúng tôi đã được HUD chấp thuận có thể giúp bạn đánh giá các lựa chọn của bạn, tìm hiểu thêm về các chương trình của liên bang và tiểu bang có thể giúp bạn với các vấn đề thế chấp của bạn, và sẽ giúp bạn tạo ra một kế hoạch phía trước.Xin lưu ý: Tất cả các nội dung trên Blog ForeclosureHelpSCC được cung cấp thông tin duy nhất và không nên coi là hợp pháp hoặc tư vấn thuế. Nếu bạn có bất cứ câu hỏi , xin vui lòng liên hệ với chúng tôi qua đường dây nóng: (408) -293-6000, hoặc truy cập vào trang của chúng tôi: http://www.foreclosurehelpscc.org hoặc gửi email cho chúng tôi:help@foreclosurehelpscc.org.

fair_housing_logo

FAIR HOUSING AND ANTI-DISCRIMINATION POLICY

It is the policy of ForeclosureHelp not to discriminate against any person because of that person’s race, color, religious creed, sex (gender), sexual orientation, marital status, national origin, ancestry, familial status (households with children under the age of 18), source of income, disability, medical condition or age. Color or “ethnic group identification” means the possession of the racial, cultural or linguistic characteristics common to a racial, cultural or ethnic group, or the country or ethnic group from which a person or his or her forebears originated. As required by law, we agree to take the affirmative steps needed to further fair housing.

ForeclosureHelp will consider any and all requests for reasonable accommodation in the application of its rules, policies, practices, and services, and in the use of its physical structures, in accordance with the requirements of state and federal laws. You can ask ForeclosureHelp to consider any reasonable accommodation you may have. Please consult with the Program Manager to request this accommodation.

New Analysis of 2009-2011 Census Data: For Wealthiest 7%, Assets Increased 28%, but for Remaining 93%, Assets Decreased 4%

By Sean Coffey, MPA, Program Manager at ForeclosureHelp

A new analysis of Census Data by the Pew Research Center reveals that the wealth gap in the United States continues to grow, and that the “economic recovery” is mostly benefiting wealthy people.

For example, the mean net worth of the eight million households in the upper 7% increased by an estimated 28%, from $2.4 million in 2009 to $3.1 million in 2011.  In comparison, people in the lower 93% (111 million households) saw their mean net worth decrease 4%, from $139,896 in 2009 down to $133,817 in 2011.

This large difference is due mostly to the differences in assets.  For example, for households with a net worth of more than $500,000, 65% of their wealth is from financial holdings like stocks, bonds, and retirement accounts, while only 17% of their wealth is based on their home value.

In contrast, for household with a net worth of less than $500,000, half of their net worth is from their home, and only 33% is from financial holdings like retirement accounts.

The analysis also examined the time period from 2005 to 2009 (when the housing market crashed), and found that mean net worth declined by 12% for “households as a whole but remained unchanged for households with a net worth of $500,000 and over.”   For the over $500,000 group, they had a mean net worth of $1,590,075 in 2005; $1,585,441 in 2009, and $1,920,956 in 2011.

This data was interesting in light of the work we do at ForeclosureHelp- for many homeowners who live here in San Jose and Sunnyvale and who contact our program, they have already attempted at least once to ask their bank to modify their mortgages.  Unfortunately, modification requests don’t always go smoothly the first time (paperwork gets lost, etc), and many homeowners cite a list of reasons they don’t want to apply again (it’s been referred to as “modification fatigue”).

However, the analysis above clearly demonstrates that a house is the largest asset for most Americans, and that’s why we encourage homeowners to meet with one of our housing counselors who is certified in foreclosure prevention counseling.

The counselors know the programs like HAMP, HARP, or Keep Your Home California, and can work with you to understand your eligibility for these programs and to submit a modification request- even if you’ve asked for a modification before and were unsuccessful.

For more reasons working with a housing counselor makes sense, visit our earlier blog post:  Five Reasons Working With A Housing Counselor is Better Than “Going Alone”

En Espanol: ¿Por Qué Trabajar Con Un Consejero de Casa?

This post has also been popular with our blog visitors: Helpful Resources if You’re Facing Foreclosure By Foreclosure Help SCC

To read the full Pew analysis, visit: A Rise in Wealth for the Wealthy; Declines for the Lower 93%

Foreclosure Help is a program funded by the city of San Jose through a HUD Community Development Block Grant and the city of Sunnyvale, and we can directly assist homeowners  and tenants in San Jose and Sunnyvale who are facing foreclosure.  However, we are unable to assist homeowners/former homeowners in other cities and states.  If you need housing counseling, we suggest using the interactive map on HUD’s website.

If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Jose through a HUD Community Development Block Grant and the City of Sunnyvale at (408)-293-6000 or visit us: www.foreclosurehelpscc.org

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.

Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org or send us an email: help@foreclosurehelpscc.org.

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: www.foreclosurehelpscc.org.Nuestros consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro sitio:www.foreclosurehelpscc.org o envíenos un correo electrónico: help@foreclosurehelpscc.org.

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi: www.foreclosurehelpscc.org.

Nhân viên tư vấn của chúng tôi đã được HUD chấp thuận có thể giúp bạn đánh giá các lựa chọn của bạn, tìm hiểu thêm về các chương trình của liên bang và tiểu bang có thể giúp bạn với các vấn đề thế chấp của bạn, và sẽ giúp bạn tạo ra một kế hoạch phía trước.Xin lưu ý: Tất cả các nội dung trên Blog ForeclosureHelpSCC được cung cấp thông tin duy nhất và không nên coi là hợp pháp hoặc tư vấn thuế. Nếu bạn có bất cứ câu hỏi , xin vui lòng liên hệ với chúng tôi qua đường dây nóng: (408) -293-6000, hoặc truy cập vào trang của chúng tôi: http://www.foreclosurehelpscc.org hoặc gửi email cho chúng tôi:help@foreclosurehelpscc.org.

fair_housing_logo

FAIR HOUSING AND ANTI-DISCRIMINATION POLICY

It is the policy of ForeclosureHelp not to discriminate against any person because of that person’s race, color, religious creed, sex (gender), sexual orientation, marital status, national origin, ancestry, familial status (households with children under the age of 18), source of income, disability, medical condition or age. Color or “ethnic group identification” means the possession of the racial, cultural or linguistic characteristics common to a racial, cultural or ethnic group, or the country or ethnic group from which a person or his or her forebears originated. As required by law, we agree to take the affirmative steps needed to further fair housing.

ForeclosureHelp will consider any and all requests for reasonable accommodation in the application of its rules, policies, practices, and services, and in the use of its physical structures, in accordance with the requirements of state and federal laws. You can ask ForeclosureHelp to consider any reasonable accommodation you may have. Please consult with the Program Manager to request this accommodation.

Second Wave of Independent Foreclosure Review Checks Mailed Out on April 19, 2013

The Office of the Comptroller Currency announced today that a second wave of 1.4 million checks (totaling $1.2 billion) is being mailed out today to homeowners and former homeowners as compensation under the Independent Foreclosure Review.   A total of 2.8 million checks have been sent out, worth $2.4 billion total.  According to the press release, 90% of the 4.2 million checks will be sent out by the end of April.  However, some borrowers will have to provide additional information and their checks will not be sent out until later this summer.

ForeclosureHelp reported last week about Congressional hearings on the many, many mistakes made throughout the Independent Foreclosure Review, including a poor outreach campaign, $2 billion being spent on “independent” consultants, and a decision in January to scrap the reviews for most of the original 14 banks and servicers.  This was replaced with a “program” of the banks deciding how badly they had injured a homeowner, and then the banks or servicers assigning a homeowner or former homeowner to a category, which would then determine their amount of compensation.

As we reported earlier this week, when homeowners first attempted to cash their checks, some of the checks were returned because of insufficient funds.

Senator Elizabeth Warren (D-MA) and other senators sharply questioned the consultants during a hearing on April 11th (Outsourcing Accountability? Examining the Role of Independent Consultants) and another hearing about the reviews took place on April 17th (Helping Homeowners Harmed by Foreclosures: Ensuring Accountability and Transparency in Foreclosure Reviews, Part II).  Senator Warren questioned whether it made sense to pay $2 billion for consultant’s work that was never actually used to determine compensation for the homeowners and former homeowners.

Editor’s note: Foreclosure Help is a program funded by the city of San Jose through a HUD Community Development Block Grant and the city of Sunnyvale, and we can directly assist homeowners  and tenants in San Jose and Sunnyvale who are facing foreclosure.  However, we are unable to assist homeowners/former homeowners in other cities and states.  If you need housing counseling, we suggest using the interactive map on HUD’s website and if you have questions about the information below, please contact Rust Consulting (1-888-952-9105).

If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Josethrough a HUD Community Development Block Grant and the City of Sunnyvale at (408)-293-6000 or visit us: www.foreclosurehelpscc.org

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.

Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org or send us an email: help@foreclosurehelpscc.org.

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: www.foreclosurehelpscc.org.Nuestros consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro sitio:www.foreclosurehelpscc.org o envíenos un correo electrónico: help@foreclosurehelpscc.org.

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi: www.foreclosurehelpscc.org.

Nhân viên tư vấn của chúng tôi đã được HUD chấp thuận có thể giúp bạn đánh giá các lựa chọn của bạn, tìm hiểu thêm về các chương trình của liên bang và tiểu bang có thể giúp bạn với các vấn đề thế chấp của bạn, và sẽ giúp bạn tạo ra một kế hoạch phía trước.Xin lưu ý: Tất cả các nội dung trên Blog ForeclosureHelpSCC được cung cấp thông tin duy nhất và không nên coi là hợp pháp hoặc tư vấn thuế. Nếu bạn có bất cứ câu hỏi , xin vui lòng liên hệ với chúng tôi qua đường dây nóng: (408) -293-6000, hoặc truy cập vào trang của chúng tôi: http://www.foreclosurehelpscc.org hoặc gửi email cho chúng tôi:help@foreclosurehelpscc.org.

fair_housing_logo

FAIR HOUSING AND ANTI-DISCRIMINATION POLICY

It is the policy of ForeclosureHelp not to discriminate against any person because of that person’s race, color, religious creed, sex (gender), sexual orientation, marital status, national origin, ancestry, familial status (households with children under the age of 18), source of income, disability, medical condition or age. Color or “ethnic group identification” means the possession of the racial, cultural or linguistic characteristics common to a racial, cultural or ethnic group, or the country or ethnic group from which a person or his or her forebears originated. As required by law, we agree to take the affirmative steps needed to further fair housing.

ForeclosureHelp will consider any and all requests for reasonable accommodation in the application of its rules, policies, practices, and services, and in the use of its physical structures, in accordance with the requirements of state and federal laws. You can ask ForeclosureHelp to consider any reasonable accommodation you may have. Please consult with the Program Manager to request this accommodation.

Federal Reserve Issues Update about Independent Foreclosure Review Checks

The Federal Reserve issued this Press Release this morning:

Release Date: April 17, 2013

For immediate release

The paying agent for checks being sent to borrowers under the Independent Foreclosure Review has assured the Federal Reserve Board that early problems with some checks have been corrected and that funds are available to cash all checks.

Some early recipients of checks informed the Federal Reserve’s consumer helpline on Tuesday that they were told their checks could not be cashed. Members of the Board staff contacted the paying agent, Rust Consulting, Inc., and the paying bank, The Huntington National Bank. Rust subsequently corrected problems that led to some checks being rejected.

The Board will continue to monitor the payments closely and encourages borrowers who have concerns or experience difficulties cashing their checks to call Rust at 1-888-952-9105.

As previously announced, on April 12, payments began to 4.2 million borrowers following an agreement reached by federal bank regulatory agencies and 13 mortgage servicers. More than 50,000 people have already cashed or deposited checks.

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If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Josethrough a HUD Community Development Block Grant and the City of Sunnyvale at (408)-293-6000 or visit us: www.foreclosurehelpscc.org

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.

Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org or send us an email: help@foreclosurehelpscc.org.

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: www.foreclosurehelpscc.org.Nuestros consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro sitio:www.foreclosurehelpscc.org o envíenos un correo electrónico: help@foreclosurehelpscc.org.

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi: www.foreclosurehelpscc.org.

Nhân viên tư vấn của chúng tôi đã được HUD chấp thuận có thể giúp bạn đánh giá các lựa chọn của bạn, tìm hiểu thêm về các chương trình của liên bang và tiểu bang có thể giúp bạn với các vấn đề thế chấp của bạn, và sẽ giúp bạn tạo ra một kế hoạch phía trước.Xin lưu ý: Tất cả các nội dung trên Blog ForeclosureHelpSCC được cung cấp thông tin duy nhất và không nên coi là hợp pháp hoặc tư vấn thuế. Nếu bạn có bất cứ câu hỏi , xin vui lòng liên hệ với chúng tôi qua đường dây nóng: (408) -293-6000, hoặc truy cập vào trang của chúng tôi: http://www.foreclosurehelpscc.org hoặc gửi email cho chúng tôi:help@foreclosurehelpscc.org.

fair_housing_logo

FAIR HOUSING AND ANTI-DISCRIMINATION POLICY

It is the policy of ForeclosureHelp not to discriminate against any person because of that person’s race, color, religious creed, sex (gender), sexual orientation, marital status, national origin, ancestry, familial status (households with children under the age of 18), source of income, disability, medical condition or age. Color or “ethnic group identification” means the possession of the racial, cultural or linguistic characteristics common to a racial, cultural or ethnic group, or the country or ethnic group from which a person or his or her forebears originated. As required by law, we agree to take the affirmative steps needed to further fair housing.

ForeclosureHelp will consider any and all requests for reasonable accommodation in the application of its rules, policies, practices, and services, and in the use of its physical structures, in accordance with the requirements of state and federal laws. You can ask ForeclosureHelp to consider any reasonable accommodation you may have. Please consult with the Program Manager to request this accommodation.

Related articles

Thanh toán tiền mặt được gửi ra Tuần này (Independent Foreclosure Review Update)

(English version: Cash Payments for Independent Foreclosure Review Will Begin Being Mailed April 12, Senate Banking Committee Will Hold Hearing about the Independent Foreclosure Reviews)

ForeclosureHelpSCC đã chặt chẽ theo dõi đánh giá Tịch thu nhà độc lập, vì vậy chúng tôi rất vui mừng để xem công bố báo chí của Cục Dự trữ Liên bang nói rằng thanh toán bằng tiền mặt cho 4.2 triệu chủ nhà bao gồm bởi các chương trình đánh giá độc lập được cập nhật Tịch thu nhà sẽ bắt đầu được gửi đi vào ngày 12 tháng 4. Bạn có thể thấy một biểu đồ trong các hình phạt và số tiền phán quyết (mỗi hình phạt), và có bao nhiêu người nhận được bồi thường cho mỗi hình phạt bằng cách sử dụng biểu đồ này trên trang mạng của Cục Dự trữ Liên bang (Federal Reserve’s) website: Independent Foreclosure Review Payment Agreement Details.

Xin nhắc lại, 13 các ngân hàng và dịch vụ được tham gia vào chương trình sửa đổi. Tuy nhiên, GMAC Mortgage, Financial Freedom (một phần của IndyMac), Everbank / Công ty EverHome Mortgage Company, và thế chấp OneWest Ngân hàng / IndyMac dịch vụ được tiếp tục với việc xem xét ban đầu, trong đó có thời hạn chót áp dụng vào ngày 31 Tháng mười hai năm 2012. Để biết thêm thông tin, xem bài trước đó của chúng tôi: Để biết thêm thông tin về các đánh giá Tịch thu nhà độc lập, hãy truy cập vào bài viết trên blog trước đó của chúng tôi: Đánh giá Tịch thu nhà độc lập: Cập nhật $ 3.6 tỷ USD trong thanh toán bằng tiền mặt và $ 5.7 tỷ USD trong hỗ trợ Sửa đổi “(tiếng Tây Ban Nha phiên bản và phiên bản tiếng Việt).    Independent Foreclosure Review: Update on $3.6 Billion in Cash Payments and $5.7 Billion in Modification Assistance.”   (Spanish version and Vietnamese version)

If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Josethrough a HUD Community Development Block Grant and the City of Sunnyvale at (408)-293-6000 or visit us: www.foreclosurehelpscc.org

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.

Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org or send us an email: help@foreclosurehelpscc.org.

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: www.foreclosurehelpscc.org.Nuestros consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro sitio:www.foreclosurehelpscc.org o envíenos un correo electrónico: help@foreclosurehelpscc.org.

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi: www.foreclosurehelpscc.org.

Nhân viên tư vấn của chúng tôi đã được HUD chấp thuận có thể giúp bạn đánh giá các lựa chọn của bạn, tìm hiểu thêm về các chương trình của liên bang và tiểu bang có thể giúp bạn với các vấn đề thế chấp của bạn, và sẽ giúp bạn tạo ra một kế hoạch phía trước.Xin lưu ý: Tất cả các nội dung trên Blog ForeclosureHelpSCC được cung cấp thông tin duy nhất và không nên coi là hợp pháp hoặc tư vấn thuế. Nếu bạn có bất cứ câu hỏi , xin vui lòng liên hệ với chúng tôi qua đường dây nóng: (408) -293-6000, hoặc truy cập vào trang của chúng tôi: http://www.foreclosurehelpscc.org hoặc gửi email cho chúng tôi:help@foreclosurehelpscc.org.

fair_housing_logo

FAIR HOUSING AND ANTI-DISCRIMINATION POLICY

It is the policy of ForeclosureHelp not to discriminate against any person because of that person’s race, color, religious creed, sex (gender), sexual orientation, marital status, national origin, ancestry, familial status (households with children under the age of 18), source of income, disability, medical condition or age. Color or “ethnic group identification” means the possession of the racial, cultural or linguistic characteristics common to a racial, cultural or ethnic group, or the country or ethnic group from which a person or his or her forebears originated. As required by law, we agree to take the affirmative steps needed to further fair housing.

ForeclosureHelp will consider any and all requests for reasonable accommodation in the application of its rules, policies, practices, and services, and in the use of its physical structures, in accordance with the requirements of state and federal laws. You can ask ForeclosureHelp to consider any reasonable accommodation you may have. Please consult with the Program Manager to request this accommodation.