Tag Archive | "HUD"
Rethinking Homeownership
Another recent article in the series “Race, Frankly”, from The St. Louis Beacon, takes a different look at how minorities have been affected by the mortgage crisis. According to Amaad Rivera of United For a Fair Economy, Latinos, blacks, and Asians have lost an estimated $164 billion to $213 billion due to sub-prime loans (in [...]
Continue reading...Hope Is Moving In – New initiative to fight homelessness
Tuesday, October 6, 2009
The recent American Recovery and Reinvestment Act opened considerable funds for the City of St. Louis to fight homelessness in our community—the U.S. Department of Housing and Urban Development (HUD) allocated $8.1 million to the City of St. Louis, and the State’s Department of Social Services’ allocated nearly $300,000. The new initiative began today,with an [...]
Continue reading...Unemployment Leads to More Foreclosures Across the Country
Tuesday, June 23, 2009
A new wave of foreclosures is affecting areas of the country not previously hard-hit by the mortgage crisis. USA Today reports that these foreclosures are different from the foreclosures at the beginning of the mortgage crisis in 2007. Instead of being caused by risky subprime lending, the recent increase in foreclosures is due to rising [...]
Continue reading...Problems with the Making Home Affordable Program
Thursday, June 11, 2009
NPR’s All Things Considered recently reported on the Making Home Affordable initiative signed into law by President Obama in March. Though the plan promises to help 4-5 million homeowners, so far it has successfully modified only 17,000 mortgages. For many Americans, applying for help through the initiative has turned out to be a confusing and [...]
Continue reading...Foreclosures Increase for Prime Borrowers
Tuesday, June 9, 2009
Since the beginning of the mortgage crisis, many experts have blamed the explosion in foreclosures on risky sub-prime loans. But USA Today reported recently that the rate of foreclosure for prime borrowers has been increasing, mainly because of rising unemployment rates. To read the rest of the article, CLICK HERE. If you or someone you [...]
Continue reading...Making Home Affordable
Thursday, March 19, 2009
The Treasury Department and HUD have partnered to launch a new website www.makinghomeaffordable.gov for individuals to find out if they are eligible for the President’s new foreclosure mitigation plan. To find out more about the plan visit the website and watch the video below of Chris Krehmeyer of Beyond Housing who is one of our community partners [...]
Continue reading...HUD Bailout Scam, Updated
Tuesday, March 17, 2009
The Buffalo News reports that, An Internet Web site that looks like a federal Housing and Urban Development operation providing financial help for homeowners facing foreclosure actually is a “phishing scam” seeking personal information, HUD officials said Friday. Also, see below for the official HUD statement referencing the scam: The U.S. Department of Housing and [...]
Continue reading...60 Minutes Feature: The Mortgage Meltdown
Tuesday, December 16, 2008
This 60 Minutes feature is a testament to the fact that the mortgage crisis is not over. When these Alt-A and ARM products readjust thousands of people will find themselves in foreclosure. As we’ve seen over the last six months foreclosures impact individuals, communities, and the entire economy. Therefore, it is of critical importance that [...]
Continue reading...More Information from HOPE NOW
Monday, November 24, 2008
Written by: Linda Ingram HOPE NOW, the private sector alliance of mortgage servicers, non-profits, counselors and investors announced this week that it has developed a new program called SMP or “Streamlined Modification Plan”. SMP expands what many lenders are already doing and will begin December 15th. It is the result of working with the US Treasury, HUD, [...]
Continue reading...Eric Madkins: There IS Help Available
Monday, November 3, 2008
November 3, 2008 Eric Madkins, of the Urban League of Metropolitan St. Louis, is a certified HUD housing counselor and the Director of Housing and Foreclosure Intervention. In this post he talks about the importance of being proactive in addressing your mortgage situtation: The housing market has seen many ups and downs as home values [...]
Continue reading...Take Action
Audio / Video
The St. Louis Beacon posted a new segment in their Job Talk series earlier this week. This report describes GO! Network and its work to help unemployed professionals in St. Louis. The economic downturn has led to unemployment among groups who have never before had to worry about paying their bills on time. Among them [...]
Reverse mortgages are a complicated product and aren’t appropriate for everyone. In our final video of the series, Buz describes the basic considerations that seniors must make when determining if a reverse mortgage is right for them. We hope you’ve enjoyed these videos. A huge thanks to Buz Zeman for talking with us. Additional information on reverse [...]
The explosive popularity of reverse mortgages and the flood of advertisements that followed have spread a number of misconceptions about reverse mortgages. Buz addresses a number of them in this video, explaining what reverse mortgages are and aren’t. He also talks about popular scams and how to avoid them. Look for the final video of [...]
Several weeks ago, Lauren had a conversation with Buz Zeman of Housing Options Provided for the Elderly (HOPE), an organization that counsels seniors on mortgages and other housing issues. Buz said that he has had to devote much of his time lately to explaining reverse mortgages. Though this sort of loan is not new, it’s [...]
In this video, St. Louis Mayor Francis Slay suggests that anyone facing foreclosure or in trouble with their mortgage seek assistance and determine if they are eligible for the Refinance and Loan Modification program. More information can be found at www.makinghomeaffordable.gov.
In this video, St. Louis County Executive Charlie Dooley encourages those facing financial hardship or anyone who fears losing their home to seek assistance. Tax-payer funded, HUD-certified housing counselors offer services at no charge, and can assist someone facing foreclosure with discussing options with their lender. For information or to connect to resources, call the [...]
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- The Beacon’s Series on the St. Louis Area Foodbank
- Good News in March Unemployment Numbers
- Lessons from the Wright Family on Seeking Help
- Staring a Business – Upcoming Workshop from the Urban League
- New Employment Resource from Ready, Aim, Advocate!
- Walking Away from Underwater Mortgages
- Beacon: Foreclosure Struggles Linger in St. Louis
- From the Beacon’s Job Talk: GO! Network
- Reverse Mortgage Considerations
- Job Talk from the St. Louis Beacon
© 2010 Facing the Mortgage Crisis
in Partnership with the CPB.
Monday, November 2, 2009
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