C.A.R. launches short sale website

With fewer than three of five short sales closing in California, C.A.R. is well aware of the complexity and difficulty of navigating lenders’ and servicers’ short-sale procedures. To assist both REALTORS® and consumers, C.A.R. has launched shortsalescalifornia.org, a website specifically focused on short sales.

On the new site, visitors will find information ranging from short sale news, foreclosure timelines, and red flags to watch for, to legal Q&As, a short-sale glossary, and much more.

Additionally, consumers can find a REALTOR® to assist with their short-sale transaction, learn what to expect as a buyer or seller of a short-sale property, and find out whether they qualify for government programs to keep their home.

Visit the new site at www.shortsalescalifornia.org

Judges berating bank lawyers over foreclosure

t's not been a good year so far for plaintiffs seeking to foreclose. Last week, a the highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. in affirming a lower court judge's ruling invalidating two mortgage foreclosure sales because the banks did not prove that they actually owned the mortgages at the time of foreclosure.

As Jacksonville attorney James Kowalksi said, "Wells Fargo had every opportunity to walk the judge through all the complicated steps to show ownership. And they couldn't do it."

Monday, the New York Times looked at how judges in that state are becoming more critical and vocal toward the attorneys representing banks in foreclosures.

"In numerous opinions," the Times wrote, "judges have accused lawyers of processing shoddy or even fabricated paperwork in foreclosure actions when representing the banks."

A judge on the state supreme court called one filing, "incredible, outrageous, ludicrous and disingenuous."

You can read the story here.

Top 20 Metro Areas by Foreclosure Rate in 3Q

As we continue trying to wade the foreclosure crisis, Nevada, California and Florida continue leading the nation with more foreclosures. Here are the latest statistics from RealtyTrac.

Rate rank / Ratio of foreclosures to households in state / Total properties with filings

1 Las Vegas-Paradise, Nev. 1:25 32,288

2 Cape Coral-Fort Myers, Fla. 1:35 10,352

3 Modesto, Calif. 1:36 4,825

4 Stockton, Calif. 1:39 5,925

5 Merced, Calif. 1:40 2,072

6 Riverside-San Bernardino-Ontario, Calif. 1:41 35,863

7 Miami-Fort Lauderdale-Pompano Beach, Fla. 1:41 58,624

8 Phoenix-Mesa-Scottsdale, Ariz. 1:44 39,199

9 Bakersfield, Calif. 1:44 6,135

10 Vallejo-Fairfield, Calif. 1:45 3,364

11 Orlando-Kissimmee, Fla. 1:47 19,171

12 Reno-Sparks, Nev. 1:50 3,637

13 Sacramento-Arden-Arcade-Roseville, Calif. 1:50 17,108

14 Boise City-Nampa, Idaho 1:52 4,624

15 Deltona-Daytona Beach-Ormond Beach, Fla. 1:53 4,708

16 Fresno, Calif. 1:58 5,314

17 Visalia-Porterville, Calif. 1:60 2,313

18 Naples-Marco Island, Fla. 1:60 3,237

19 Palm Bay-Melbourne-Titusville, Fla. 1:61 4,381

20 Lakeland, Fla. 1:61 4,568

SOURCE: RealtyTrac

¿Qué Es Un Short Sale?

Un Short Sale ocurre cuando la compañía financiera que está sirviendo tu hipoteca acepta que vendas tu propiedad por menos de lo que debes al banco, por ejemplo: Usted debe en su hipoteca $100,000.00, necesitas vender la propiedad, pero el valor de las casas alrededor de la suya no se venden por más de $95,000.00 entonces tu asesor de bienes raíces negocia con el banco para que ellos acepten menos dinero de lo que se debe en realidad cuando se efectúe la venta de la propiedad.

Esto no siempre se puede realizar, es por eso que se recomienda que primero se logre un acuerdo con la entidad financiera antes de aceptar una oferta y de esta forma saber cuánto dinero el banco está dispuesto a perder. Tenga presente que el banco puede pedirle que pague la diferencia por separado o vender algo que tenga de valor. Nunca haga este proceso solo y siempre trate de tener un experto a su lado.

Para informarte mas sobre el short sale, visite EviteelForeclosureAmerica.com

O contáctenos por teléfono llamando totalmente gratis a 888-934-9779, Recuerde, su llamada siempre se mantendrá confidencial.

Bill Arce
Asesor de Bienes Raíces

Understanding the Government's Home Affordable Modification Program (HAMP)

Post By: www.homeloanlearningcenter.com

HAMP is a modification program with very specific requirements. It was introduced by the Obama administration to help prevent avoidable foreclosures. HAMP is one tool of many available to help borrowers who are in danger of losing their homes.

As you read through the information on this page, keep in mind that loan modifications are complicated things. The company that is modifying your loan is obligated to verify, to the best of its ability, that you will be able to make your payments moving forward. They do not want to foreclose on your property. No one wins when that happens.

Through the first eight months of 2009, the mortgage industry helped avoid 2.1 million foreclosures, and through October 31, 2009, servicers extended more than 919,965 HAMP mortgage modification offers and have initiated more than 650,994 trial modifications (a three-month period in which a borrower makes on-time payments on a modified mortgage before the modification can become permanent).

If you are truly facing financial hardship, there may be help available. Be aware, however, that not everyone qualifies for a mortgage modification. As you go through the process, try to be as cooperative and patient as possible. Keep in contact with your counselor or servicer and don't be afraid to ask questions. You will be asked to provide numerous documents and fill out many forms. Be honest and realistic about your situation so you don't find yourself facing foreclosure again in the future.

What to expect from the HAMP process

Under the guidelines established by the U.S. Department of the Treasury, your servicer will need the following from you in order to evaluate you for a HAMP modification:

First, you will need to give an explanation of your financial hardship and the reason you cannot or believe you may soon not be able to make your mortgage payment. The government has given examples of acceptable hardships:

a. Reduction in or loss of income that is needed to pay the mortgage.
b. Change in household financial circumstances.
c. Recent or upcoming increase in your monthly mortgage payment.
d. An unavoidable increase in other expenses.
e. A lack of cash reserves to maintain payment on the mortgage and cover basic living expenses at the same time. (This can include cash savings, money market funds, stocks or bonds, but not retirement accounts.)
f. Excessive monthly debt payments and over-extensions with credit cards. For example, you have been using credit cards, a home equity loan or other credit to make your mortgage payment.
g. Other reasons for hardship detailed by the borrower.

The first step is to contact your "servicer," which is the company you send your mortgage payments to. The HAMP program requires your servicer to collect the following information from you:

1. Your current monthly household income from all sources including salary or wages, tips, bonuses, alimony, retirement benefits, unemployment benefits or public assistance. Be sure to know when your unemployment or other benefits are scheduled to expire. It is important that you have evidence that unemployment benefits will continue for at least nine months. If applicable, borrowers should also provide documentation of other income including social security, disability, death benefits, pension or public assistance such as letters, insurance policies or statements and should be able to show the frequency and duration of the benefits. Borrower must also provide the two most recent bank statements showing receipt of such payments.
2. Two most recent pay stubs from your current employer showing year-to-date earnings.
3. IRS Form 4506T signed and dated by each borrower.
4. If you are self-employed, your most recent quarterly or year-to-date profit / loss statement.
5. In certain cases, signed copies of your most recent federal tax return. (If you have filed electronically, print a copy and have all parties sign the hard copy.)
6. Household expenses, including but not limited to second mortgages, revolving debt, car payments, alimony / child support and homeowners’ association (HOA) and / or condominium fees, if applicable.
7. Your hazard and flood insurance premiums, as applicable.
8. Your real estate / property taxes. This information is often available online from your county, city or other tax jurisdiction’s web page.
9. Household assets, including but not limited to amounts in checking and savings accounts, certificates of deposit (CDs), stocks and bonds.

If you are current or less than 60 days delinquent with your mortgage payments but believe you are at risk of "imminent default" and want to discuss a loan modification, you will be subject to a more thorough review of your household finances. You are likely to be asked to provide documentation of all household income and household expenses.

More information on the Home Affordable Modification Program can be found at www.makinghomeaffordable.gov.

Other considerations

Stay in contact with your servicer and/or mortgage counselor at all times. Notify them of any change in your circumstances, including new employment or problems with making payments under any modification plan.

Be patient, cooperative and honest, and keep your commitment on any modification agreement.

A HAMP modification is not the only loss mitigation tool available. If you do not qualify for HAMP, ask your servicer about other "workout" alternatives, including postponements of regular payments (called forbearance), repayment plans, non-HAMP modifications and other options.

Only work with reputable servicers and counselors. There are a lot of fraudsters out there looking for targets. For some hints, download our guide to Avoiding Foreclosure Rescue Scams.

Why when we are talking about Foreclosure and how it hurts Minorities, Race is always a factor ignoring the real problem?

By Bill Arce (RealEstateLatino.com)
Study: Latino ‘foreclosure generation’ devastated

The Orange County Register has this article featuring a study conducted by NCLR reporting how minority (especially Latinos) are being disproportionally hurt by the housing crisis mainly, foreclosures.

The study shows some interesting findings, statistics and makes recommendations:

Researchers interviewed 25 families in foreclosure, many victims of “predatory lending,” according to the study’s authors.

Among their findings:

•The loss of a job and a hike in mortgage payments most often led to losing the home. The families interviewed lost an average of $89,155 because of the foreclosure.

•Despite going to their lenders for help, none of the families were offered a loan modification, forbearance or other help.

•More than half of the families reported that their children had academic or behavioral problems in school because of the instability in the home. Researchers have dubbed these families “the foreclosure generation.”

•All but one family was left without savings they could tap in case of a financial emergency, and many held back on necessary health care to save money.

The study advocates loan modifications that include a principal reduction and a strengthening of the safety net, including allowing foreclosed families to stay in their homes as renters and a program of community based, nonprofit financial counseling.

Now, what really stroke me about this article was the responds some of the readers had. I liked to think some of these readers were showing signs of frustration due to the fact they are losing their homes to foreclosure, other may feel their race is underrepresented, or simple it seams that they are losing their share of “HOPE” and might be left out of any help available. Whether the case may be, I think it is incorrect to assume that minorities’ homeowners are getting more assistance than others just because we are considered a minority, when it is true that the mortgage crisis is hurting more Latinos and African American than anybody else.

The sad part will be when we get out of this mess and we realized we didn’t learn anything from it.

Your Money Bus is coming to Jacksonville

It's never too late to secure
your financial future.

Get free professional advice, no strings attached.
Your Money Bus will be in town soon. Just bring your questions and concerns for a one-on-one consultation with a volunteer independent financial planner.

You can ask about budgeting, saving,reducing debt, investing and more. And, you'll receive a complimentary toolkit with articles,workbooks and interactive tools to help you plan for your future. The bus will be stopping at:


Free Advice Event
Gateway WorkSource Center
(in Gateway Town Center)
5000-2 Norwood Avenue
Jacksonville, FL 32208
February 19th - 9:00-5:00 p.m.
February 20th - 9:00-1:00 p.m.


To make an appointment

visit

www.yourmoneybus.com

NCLR and Freddie Mac Partner on Innovative Effort to Help Latinos Avoid Foreclosure

RISMEDIA, January 29, 2010—In an effort to keep more families from losing their homes, NCLR (National Council of La Raza), one of the largest national Hispanic civil rights and advocacy organizations in the United States, and Freddie Mac announced their partnership on a program that will provide personalized credit counseling free of charge to Hispanic homeowners who are more than 90 days behind with their mortgage payments.

“NCLR’s partnership with Freddie Mac on this program means that distressed minority homeowners can access effective, personalized housing counseling from trusted community organizations. This effort will strengthen our ability to replicate best practices and succeed in helping more Latino families stay in their homes,” said Janet Murguía, NCLR president and CEO.

According to the organization, the Borrower Help program consists of pilot programs in Phoenix, Chicago, the District of Columbia, and the Riverside/San Bernardino, California area, as well as a nationwide phone campaign that offer struggling minority homeowners the opportunity to review their credit status and options with trained, bilingual housing counselors from nonprofit organizations. Southwest Housing Solutions in Detroit and New Economics for Women in Los Angeles—community-based organizations that are members of the NCLR Homeownership Network (NHN)—are providing families with counseling through this program.

“NCLR is a trusted and tested organization with a track record for helping borrowers regain their financial footing and avoid unnecessary foreclosure,” said Dwight Robinson, senior vice president for Corporate Relations and Housing Outreach at Freddie Mac. “As part of Freddie Mac’s Borrower Help Network, NCLR will provide our delinquent borrowers with a strong and reliable guide to navigate the workout process.”

Freddie Mac is partnering with 13 nonprofit organizations in the Borrower Help Network and Borrower Help Center. The program’s goal is to reach people who may be reluctant to communicate with lenders and help them find a viable way to keep their homes by providing access to third-party counselors who can take a holistic approach to their credit picture. By working with trusted nonprofit organizations, Freddie Mac offers an alternative—one that borrowers may feel more comfortable with—to speaking directly with the lender when they are facing financial difficulties.

“An estimated 400,000 Latino families lost their homes to foreclosure in 2009,” said Murguía. “As foreclosure rates continue to grow, it is important for the Latino community and our nation that we create more innovative programs to help people keep their homes. The Borrower Help program offers a fresh approach to homeowner credit counseling.”

For more information, visit www.nclr.org.

Feel free to leave your comments here.

Walk Away Even if You Can Pay?

Lenders are getting a growing pressure on their need to do more to help homeowners facing foreclosure, from the current administration to non-profit groups all are trying to see alternative to foreclosure. One of this alternative is ShortSales, it will cost less to lenders compared to a foreclosure and it will allow homeowners to buy another home after 2 years or repair their credit report. Click on the link below to see a report an "Strategic Walk Away From Your Home"

Walk Away Even if You Can Pay?

Don't forget Leave your Comments Here!!

LOCAL JACKSONVILLE BANKS RECOGNIZED FOR FORECLOSURE EFFORTS

FOR IMMEDIATE RELEASE Contact: Ginny Walthour, (904) 630-2518

LOCAL BANKS RECOGNIZED FOR FORECLOSURE EFFORTS
Foreclosure Task Force Applauds Initiatives and Monetary Donations

JACKSONVILLE, Fla., Dec. 10, 2009 – City Council Member Kevin Hyde joined members of the Jacksonville Foreclosure Task Force today to recognize the foreclosure efforts and monetary donations that local banks, Regions Bank, Wachovia/Wells Fargo and EverBank, have contributed to the City of Jacksonville’s marketing efforts in foreclosure prevention. Together, the three banks have donated $35,000 to assist the city with their efforts to reach homeowners in need to prevent foreclosure.

According to the Duval County Clerk of Courts, from January to September, more than 10,770 lis pendens notices were filed. Jacksonville recently posted a 64 percent foreclosure rate – one of the highest in the country, according to RealtyTrac.

Council Member Hyde was instrumental in creating the Jacksonville Foreclosure Task Force whose responsibility is to make recommendations to the mayor, city council and the Housing & Neighborhoods Department for further action in preventing foreclosure and providing assistance and relief to those facing or subject to foreclosure. Michael Boylan, president of WJCT, chairs the task force which is composed of nine members with considerable experience in banking, consumer law, marketing, housing, credit counseling, social service or other fields that provide a unique and substantial insight into foreclosure prevention, assistance and relief.

“The primary goal of the task force is to ensure that homeowners facing financial difficulty can fully explore ways to stay in their home. The task force, in an innovative partnership with the private sector and the city’s Housing & Neighborhoods Department, continues to distribute information and develop ideas to assist homeowners in need,” said Council Member Hyde. “I would especially like to express my appreciation to the local banks— Regions, Wachovia/Wells Fargo and EverBank—for their continued financial support in helping to achieve these goals.”

Through its extensive community efforts and programs such as the Stay Home Web program Web site on www.coj.net and the Facing the Mortgage Crisis initiative with WJCT, the city has been able to provide resources to connect those homeowners who may face or are facing foreclosure with the appropriate agencies for assistance. The Housing & Neighborhoods Department has mailed more than 2,260 informational packets to homeowners who have received lis pendens notices and anticipates reaching more than 5,000 families in the upcoming months as more notices are filed.

“The key to success for homeowners in trouble is to get assistance as early as possible. I was pleased to help lead the fundraising efforts with the local banks to raise the necessary monies to assist the city in reaching homeowners in need,” said Regions Bank President Marty Lanahan. “Prevention of foreclosures starts with educating homeowners about managing credit and the pitfalls of predatory lenders and the informational resources provided by the city are well-equipped to help our homeowners.”

More information about the city’s foreclosure programs can be found at http://www.coj.net/Departments/Housing+and+Neighborhoods/default.htm.

Foreclosures Impact Latino Immigrant Communities

Here is an article addressing the currently foreclosure crisis and how is affecting the Latino community. Please share it.

KANSAS CITY, KS (kcur) - The foreclosure crisis has brought a particular set of issues to Latino immigrants in the Kansas City area. Because of language barriers and the lack of a credit history, many immigrants are vulnerable to predatory lenders. They haven't faced more foreclosures than other groups. But when they do have housing problems, there are a few places where they can turn for help.

Carmen and Luis Amiel came to Kansas City about three years ago to buy a house.

"Because I lived 16 years in California and could never buy a house," Luis Amiel says. "Because it was too expensive."

Luis Amiel is from Peru, originally, and Carmen Amiel is from Mexico, where she had studied architecture. They met in Los Angeles, married and had three children. But then Carmen heard from some relatives about the good housing market in Kansas City.

She says they were excited about possibility of a house, with space for their kids, decent schools, and a quiet neighborhood. Her family recommended a real estate agent.

He sold the Amiels a $60,000 house with many structural problems. He promised to fix them, but never did.

"Because they didn't have the knowledge," says Licha Ybarra, who runs a home ownership program at Harvest America, a non-profit agency based in Kansas City Kansas. "They didn't know what to do. They didn't know how to do it. They didn't know who to go to. They were not able to get anything done, period."

Earlier this year, the Amiels came to Harvest America looking for help, when Luis lost one of his two jobs, and they fell behind in their mortgage payments. In the past year, Licha Ybarra's office has gotten hundreds of calls for help with loan modifications, mainly from Latino immigrant families.

"Someone just found out about Harvest America," Ybarra says. "And then we had all these calls; so we had a high volume of, unfortunately, foreclosure cases."

For Ybarra, it's been a stunning turn of events. About 15 years ago, she helped found one of the first local home-buyer programs geared towards Spanish speakers.

"There was a boom," Ybarra says. "In their countries, you have to be rich to buy a house and when they found out that all they needed was between a three percent and five percent down-payment. It was just word of mouth!"

In the late 1990s, several banks saw this as an under-served market. They began translating mortgage applications into Spanish, and accepted taxpayer IDs for those who didn't have social security numbers.

"I have to tell you that most Latinos are ready," Ybarra says. They have their money saved up, they have their savings, they have great work history, great rent history.

Ybarra says if they don't have traditional credit, she and the banks will work with home-buyers to come up with an alternative. But without that help, immigrants were at the mercy of some unscrupulous lenders.

"So here they were signing all these documents, you know, paying all these high fees, interest rates, paying all this money to the broker, to the real estate agent. And you know what, a lot of Spanish-speaking brokers, and a lot of Spanish-speaking real estate agents sadly took advantage of their own people."

In the past year, Ybarra says she's been able to help most families with bad mortgages get loan modifications.

Now this doesn't mean that Latino immigrants have had more problems with foreclosures than others. Ann Murguia heads the Argentine Neighborhood Development Association. She's been tracking foreclosures throughout Wyandotte County, where she's also a Unified Government Commissioner.

"Based on my experience in Argentine," Murguia says, "The number of foreclosures with migrants is few and far between."

Murguia's observations coincide with a national report from the Pew Hispanic Center, which says the rate of homeownership among immigrant Latinos has stayed the same in the past couple of years. That's even while homeownership has dropped for US-born Latinos, African Americans and whites.

"Migrants typically don't over-extend themselves," Murguia says. "It's a very conservative population, and they try to live within their means."

Murguia says even in situations where families have been the victims of predatory schemes, many will just keep paying a large portion of their incomes on loans they'll probably never pay off. And that's for modest homes.

"People want to keep paying because they don't want to raise any attention to themselves. And I don't just say that because they're undocumented. They don't want to cause problems, they don't want to make waves, and so - they don't complain."

Back at Harvest America, Licha Ybarra says some of these same predatory lenders are now charging families to do loan modifications.

Ybarra tells the Amiels, "Don't trust someone just because they speak your language."

And as for them, Luis Amiel hasn't been able to find enough work here. So he's thinking about going back to California, while Carmen and the kids stay in Kansas City.

"How sad," Licha Ybarra says, "That they'll need to be separated just to keep paying for their home."

This story was produced for KC Currents.

www.realestatelatino.com

Consumers Group Takes Mortgage Modification Programs to Task

By David Morrison
The National Consumer Law Center, a Washington based consumer protection organization released a 50 page report sharply criticizing federal, state and local mortgage modification programs for not really pushing mortgage servicers to help homeowners.

“Ultimately, under most of the existing foreclosure mediation programs servicer discretion prevails,” the report said in its executive summary. “If the programs continue to demand little or no accountability from servicers, they will likely go the way of other efforts to control foreclosures that relied on voluntary compliance by the lending industry. They will become another piece of imagery the industry uses to support its

claims that voluntary efforts work, that statutory and other government mandates for loan modifications are unnecessary, and that jargon about the benefits of communication can solve the foreclosure crisis.”

In order to better the process for consumers, the NCLC recommended forcing mortgage servicers to disclose more about their modification calculations, bargain in good faith and not allow judicial or non-judicial foreclosures to move forward unless the servicer can show it has tried in good faith to modify the mortgage.
The National Consumer Law Center, a Washington based consumer protection organization released a 50 page report sharply criticizing federal, state and local mortgage modification programs for not really pushing mortgage servicers to help homeowners.

“Ultimately, under most of the existing foreclosure mediation programs servicer discretion prevails,” the report said in its executive summary. “If the programs continue to demand little or no accountability from servicers, they will likely go the way of other efforts to control foreclosures that relied on voluntary compliance by the lending industry. They will become another piece of imagery the industry uses to support its

claims that voluntary efforts work, that statutory and other government mandates for loan modifications are unnecessary, and that jargon about the benefits of communication can solve the foreclosure crisis.”


In order to better the process for consumers, the NCLC recommended forcing mortgage servicers to disclose more about their modification calculations, bargain in good faith and not allow judicial or non-judicial foreclosures to move forward unless the servicer can show it has tried in good faith to modify the mortgage.

Source: Credit Union Times

Foreclosure Workshop In Jacksonville

Florida Chief Financial Officer Alex Sink
invites you to participate in

Florida Housing Help

A community outreach program sponsored by the
Department of Financial Services and the
Financial Action Team (FACT) in partnership with
Wealth Watchers, Inc.

Florida Housing Help is designed to educate
and assist families facing foreclosure.

Event: Florida Housing Help Workshop

Date: Saturday, August 1, 2009

Where: Beaver Street Enterprise Center
1225 W. Beaver Street, Jacksonville, FL 32204

Time: 8 a.m. to 12 p.m.

This workshop will include opportunities to meet with mortgage
lenders, HUD-certified housing counselors, local housing authorities,
legal assistance, credit counseling services, and many other
foreclosure assistance programs.

Pre-registration is recommended
online at www.wealthwatchersfl.com or call (904) 380-0347.

Long Island homeowners are warned about foreclosure rescue ‘scams”

With an increased in foreclosures federal officials in Long Island, NY announced back in April that the FTC is cracking down on companies that promise to modify loans who are in default for a fee. Some homeowners still are facing foreclosure after trying to do workouts thru some of these companies. Read the full article here.

Foreclosure, Some New Facts:

By:www.RealEstateLatino.com

Foreclosures are touching literally everybody in our country, either you are one of the “unlucky one” who are facing foreclosure, or you know of a friend or family member in that situation or your home’s value was affected by a nearby-foreclosed property, the reality is that, foreclosures are part of our daily life and it seams that is going to be like this for a while.

After researching the market, I found some facts that I wanted to share with you.

Here are some facts that I was able to find:

*US Foreclosure Filings In February Up 30% On Year –RealtyTrac

*Slightly more than 290,000 properties- one in every 440 housing units - were slapped with a foreclosure filing in February, up nearly 30% from a year earlier
*Foreclosure cases rise on Long Island to a new higher level of 54% last month

*In Florida 8,450 existing homes sold, up 24 percent from the 6,810 homes sold in January 2008, according to FAR

*6% increase from January, was the third-highest monthly total - following those in August and December 2008

*Filings spike after moratoriums expire this month
Jacksonville, Fl Forbes’s prediction to become US foreclosure capital rank number 25 on the 100 top metro area list

*In Florida, one in every 188 homes faced foreclosure

*In Jacksonville, there were 2,107 foreclosures, or one for every 278 homes. That’s up 14 percent from January and up 29 percent from February of last year

*Jacksonville is number 5 amount Florida’s mayor cities facing foreclosure

*After a 45-day voluntary moratorium in Florida ended at the end of January, foreclosure activity increased 14% from a month earlier

*New York proceedings delayed by a 90-day extension appear to have hit the system in February, boosting foreclosure activity by 23%

*Thousands of Alt-A and option-arm loans worth $60 billion to $70 billion are due to reset starting in the second quarter

*One in every 440 homes nationwide was hit with a foreclosure filing

*Much of the foreclosure is rippling across former bubble markets

*In Las Vegas, one in every 60 units received a filing, giving the city the nation's highest rate among metro areas with a population of at least 200,000 and a rate more than seven times higher than the national average

*One in every 440 homes nationwide was hit with a foreclosure filing

*In Florida, one in every 188 homes faced foreclosure

*The Cape Coral-Fort Myers, Fla., area came in next, with one in every 65 getting a filing from default notices to bank repossessions

*Phoenix ranks ninth with one in every 110 units

*Nationwide, 290,631 properties had foreclosure filings, 46,391 of which were in Florida

I am sure this facts list could go on and on, but we will stop here…for now.

Foreclosure Prevention Workshops in Oakland, CA

There is hope for homeowners who are facing foreclosure or in danger to losing their home to foreclosure in Oakland, CA. Community and city leaders are organizing a series of free workshops for homeowners. For more details and to RSVP read below.

Todabia hay experanza para aquellos duenos de casa que estan en peligro de perder sus hogares por una ejecucion hipotecaria en el area de Oakland, CA. Lideres comunitarios y del govierno local estan ofreciendo una serie de seminarios para ayudarles a no perder sus casa. Lean abajo para mas informacion.

Date/Fecha:
04-01-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

04-01-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

04-04-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

04-08-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

04-08-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

04-15-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

04-15-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

04-18-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

04-22-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

04-29-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

05-02-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

05-06-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

05-06-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

05-13-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

05-13-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

05-16-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

05-20-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

05-20-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

05-27-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

06-03-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

06-03-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

06-06-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

06-10-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

06-10-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

06-17-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

06-17-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

06-20-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

06-24-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

07-01-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

07-08-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

07-08-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

07-15-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

07-18-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

07-22-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

07-22-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

07-29-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-01-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-05-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-12-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-12-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

08-15-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-19-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-26-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

08-26-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

09-02-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

09-05-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

09-09-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

09-09-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

09-16-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

09-19-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

09-23-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792


09-23-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

09-30-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-03-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-07-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-14-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-14-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

10-17-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-21-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-28-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

10-28-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

11-04-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

11-07-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

11-11-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

11-11-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

11-18-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792


11-18-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

11-21-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

11-25-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-02-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-02-09
Tikila - The Unity Council - tmcdavid@unitycouncil.org - 510-535-6920

12-05-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-09-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-16-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-19-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-23-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

12-30-09
Debbra Carrigan - NID-HCA - dcarrigan@nidonline.org - 510-268-9792

Questions, www.realestatelatino.com

Guide to Avoid Foreclosure in Jacksonville, FL

If you are behind on your mortgage, the following agencies may be able to help if you live in or around Jacksonville, FL. Most experts advised that it’s better to call the lender first and then seek help as soon as you are behind on payments or know you will soon be behind.

JACKSONVILLE AREA LEGAL AIDVisit http://www.jaxlegalaid.org/ or call (904) 356-8371. Walk-in application hours at the main office at 126 W. Adams St. on Mondays and Thursdays are from 8:30 to 11 a.m. Only the first 55 applicants are seen. Legal Aid has a new foreclosure-oriented office at 3701 Winton Drive in the Ribault Family Resource Center. This center focuses on ZIP codes hardest hit by foreclosures in 2007: 32209, 32208, 32206 and 32218 on the Northside and 32244 on the Westside. Clients are seen by appointment only, except in the case of an emergency. Call (904) 390-4019 for an appointment.

THE FLORIDA BARPre-foreclosure help may be available by calling (866) 607-2187 or visit http://www.floridabar.org/ for an online form. To find a private attorney, call the Jacksonville Bar Association for a referral at (904) 399-5780 or visit http://www.jaxbar.org/.

JACKSONVILLE http://www.coj.net/ Call (904) 630-2489 (630-CITY) and ask for the housing program. The city may be able to help with one-time cash assistance and financial counseling.

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENTCall (800) 569-4287 or visit www.hud.gov/foreclosure to find resources and a list of certified housing counselors. Contact the federal government’s foreclosure hot line at (888) 995-4673 (995-HOPE) or http://www.995hope.org/.

FLORIDA DEPARTMENT OF FINANCIAL SERVICESThe DFS asks that you call the Consumer Helpline at (800) 342-2762 before you pay anyone who offers to help you get out of foreclosure.

Q&A about Government's plan to avert foreclosures

Who will receive help?
Those who may be at risk of foreclosure as well as some homeowners who are "underwater" on their loans.

What are the outlines of the plan?
A refinancing option for those who are making payments but are paying high interest rates and would otherwise not be able to refinance, either because they do not have enough equity or because their houses are worth less than they borrowed.

$75 billion in assistance for people at risk of foreclosure through incentives to lenders to alter the terms of loans.

Assurance that there is credit available for mortgages through $200 billion in backing to mortgage finance companies Fannie Mae and Freddie Mac.

How much will this cost to the American taxpayers?
A total of $275 billion.

How many homeowners will be assisted?
The government estimates between 7 million to 9 million homeowners.

Is congressional approval a must?
Some parts, including a provision to allow changes to mortgages through bankruptcy proceedings, will require legislation.

When is the starting day?
March 4.

If I need help, what should I do?
Collect all necessary documents such as pay stubs, tax returns and loan and credit card statements to call your lender first. After calling your lender, research for any local assistance offered by non-profits or local government.

Remember doing nothing is worth that facing foreclosure.

Citi and Chase To Halt Some Types of Foreclosures

Citi and Chase announced that they have committed to a temporary halt of some residential foreclosures. To what it seams, it is in response to a suggestion made by Rep. Barney Frank (D-Mass.) on Wednesday before Various CEOs from 8 of the most important financial institution..

The chairman of the House Financial Services Committee, who said to have a moratorium, in order to give the Treasury Department more time to implement its own foreclosure-reduction plan. Treasury Secretary Timothy Geithner on Tuesday released outlines of an economic-revival effort that are slated to include about $50 billion in assistance to “prevent avoidable foreclosures” of some owner-occupied homes, and this moratorium would serve as a lead-in to the federal plan.

JPMorgan CEO Jamie Dimon sent a letter on Thursday to Rep. Frank in which he said his Chase would have a foreclosure moratorium through March 6 for any owner-occupied residential loans that are owned and serviced by JPMorgan Chase.

In the other hand, Citigroup said on Friday that it’s expanding a foreclosure moratorium already in place that’s effective through March 12 or until the government’s new loan modification program is finalized, “whichever is earlier.” The moratorium will apply to Citi’s Owned first mortgages who are also the homeowner primarily residence. In audition, loans serviced Citi where there is an agreement with the investor, will also fall into the moratorium.

More financial institutions should follow the lead of Citi and Chase and allowed distressed homeowner currently facing foreclosure more time to see if they could benefit from a rescue plan organized by the federal government.

Keep Your Home. Know Your Loan." HUD campaign promotes free housing counseling

NEWS Department of Housing and Urban Development - Steve Preston, SecretaryOffice of Public Affairs, Washington, DC 20410HUD No. 09-005

FOR RELEASEBrian Sullivan
Wednesday January 14, 2009

http://www.hud.gov/news/index.cfm
HUD KICKS OFF SIX-CITY FINANCIAL LITERACY CAMPAIGN TO HELP TROUBLED HOMEOWNERS AVOID FORECLOSURE AND RESCUE SCAMS"Keep Your Home. Know Your Loan." campaign promotes free housing counseling

NEW YORK - U.S. Housing and Urban Development Secretary Steve Preston today announced HUD's latest effort to prevent foreclosure by launching an aggressive consumer education campaign in six cities. HUD's "Keep Your Home. Know Your Loan." campaign will kick off in Chicago, Detroit, Los Angeles, Miami, New York and Phoenix. Preston launched the public awareness initiative at Neighborhood Housing Services, a New York City agency that offers clients free mortgage delinquency and default resolution counseling.HUD's financial literacy campaign builds on the Department's continuing commitment to support its 2,600 housing counseling agencies across the country.

In 2008, demand for HUD-approved counseling increased significantly. Meanwhile, the number of foreclosure rescue scams has also increased in response to the nation's housing crisis. "This campaign is a call to action for families at risk of losing their homes," said Preston. "We want people to pick up the phone and call a HUD-approved housing counseling agency before they reach a point of no return. Keeping your home may be as easy as dialing 877-HUD-1515."Many troubled homeowners seek help late in their financial crisis thereby limiting their loan modification options.

HUD's campaign will target homeowners who are three-to-six months from defaulting on their mortgage, facing a reset on their adjustable-rate mortgage, or are experiencing a family crisis such as unemployment or skyrocketing health care costs in 2009. The "Keep Your Home. Know Your Loan." campaign will include print, radio and television public service announcements, as well as a tool kit for non-profit counseling agencies that will support the effort. In each PSA, consumers are directed to call HUD's toll-free counseling hotline (877-HUD-1515) to arrange free face-to-face meetings with a counselor near them.

Since most HUD-approved counseling agencies lack the resources for marketing and outreach, the Department is launching this campaign to help consumers earlier in their financial crisis and to fight the explosion of "pay-to-play" loan modification scams.HUD's support for housing counseling agencies has grown significantly, from $20 million in 2001 to $50 million in 2008. In addition, federal support has now grown exponentially with $360 million in additional funds in 2008 specifically for foreclosure prevention counseling. HUD has requested another $65 million to support local housing counseling agencies in FY 2009. Research finds HUD-approved housing counseling is effective to prevent foreclosure.

A recent HUD study noted a 55 percent increase in the number of clients receiving foreclosure prevention counseling between 2006 and 2007. Of the approximately 136,000 families that completed this counseling during 2007, 45 percent were able to remain in their homes while 14 percent ultimately lost their home through foreclosure. This report also found that in the years leading up to the current crisis, more than 55 percent of low-income families seeking to buy their first home did not seek out pre-purchase counseling. This lack of counseling likely left them unprepared to make one of the biggest financial commitments of their lives and may have contributed to some of today's high rates of default and foreclosure.

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HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Fact SheetConsumer Education Campaign

CHALLENGE: In light of the economic conditions, including declining home values and the increase of resetting mortgage rates, many Americans are facing significant challenges that are contributing to the alarming rate of foreclosures. HUD-approved Housing Counseling Agencies can help homeowners navigate their financial challenges.

However, counselors have more options to assist clients when homeowners call early in the process BEFORE they are in crisis.RESPONSE: Over the next six months, U.S. Housing and Urban Development is launching a national consumer education campaign urging homeowners to seek free, HUD-approved housing counseling advice.

The campaign is a call to action for homeowners and will target communities and demographic groups that are most at-risk.CAMPAIGN GOAL: Provide marketing and outreach materials, and technical support to assist housing counseling and non-profit agencies that provide services to homeowners. The hope is to target current homeowners to assist them in keeping their homes by:

Informing them of their loan terms and associated financial options;
Encouraging them to seek assistance early - CALL TO ACTION; and
Educating consumers on how to improve general financial literacy.

COMPONENTS: The campaign provides a 'tool kit' which includes print, radio and TV PSAs, to support community, non-profit agencies that provide housing counseling services.

PARTNERS: HUD is urging community, cultural, faith-based and political advocates to become involved in the campaign. In addition, HUD is seeking homeowner associations, real estate brokers and other members of industry to take an active role. Visit the website and learn more.

TARGET CITIES: Six cities were chosen for the launching of the campaign which are New York, Miami, Chicago, Detroit, Los Angeles, and Phoenix.

CAMPAIGN BRAND AND HOTLINE: Keep Your Home. Know Your Loan.CALL 1-877-HUD-1515 for one of HUD's 2,600 approved Housing Counseling Agencies in your local area. Visit http://www.hud.gov/keepyourhome.