News (Noticias) Tagged ‘foreclosure’

The American Nightmare is a new book by veteran housing counselors Sylvia Alvarez and Walter Walker Jr. that offers distressed homeowners tips and strategies that can help them avoid, survive and overcome foreclosure. Published in partnership with the National Association of Hispanic Real Estate Professionals (NAHREP), free downloadable excerpts of The American Nightmare are available in English and Spanish at www.NAHREP.org and include pointers that will help desperate homeowners from becoming the target of short sale and foreclosure scams.

A link is also provided to purchase the book (foreclosuretheamericannightmare.net/index.aspx) for $14.95.

Unsuspecting homeowners that are frantic for a quick fix to avoid foreclosure are becoming the victims of foreclosure scams that promise to save them from the loss of their homes. Many are paying thousands to thieves disguised as well meaning professionals that offer to repay their mortgage in exchange for the transfer of their deeds. The authors were inspired to write the book after being deluged at the housing agency where they work by people who have fallen prey to these mortgage scams and others. In addition to practical advice about how to avoid foreclosure, negotiate loan modifications or short sales and more, the book educates readers about the clever ways predators are bilking consumers.

FREE downloadable excerpts (www.nahrep.org/american_nightmare/foreclosure-options.html) of the book offer homeowners information about:

- Common predatory lending scams (www.nahrep.org/american_nightmare/foreclosure-scams.html)

- Short sale and “flip for profit” scams;

- Equity skimming scams that leave homeowners with more debt and no house;

- Phony counseling agencies;

- How to file a complaint and report mortgage fraud;

- Plus options that homeowners can pursue if they are already in mortgage default (www.nahrep.org/american_nightmare/mortgage-default.html).

“Too many panicked homeowners that are looking for ways to save their homes are falling prey to unscrupulous people and foreclosure scams,” said Rebecca Gallardo-Serrano, Chairman of NAHREP. “Knowledge is power. The American Nightmare offers homeowners important information about the types of scams out there and how they can protect themselves from predators.”

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.”

Latino Expo USA Features Free Services on Health, Housing, and Citizenship, Plus Celebrity Appearances and Giveaways to the San Diego Community

San Diego, CA – Families in the San Diego area can enjoy diverse activities that are free and open to the public from Saturday, July 12 to Monday, July 14 at Latino Expo USA, presented at the 2008 National Council of La Raza (NCLR) Annual Conference. NCLR is the largest national Hispanic civil rights and advocacy organization in the United States. These events kick off with an official ribbon-cutting ceremony at 10:15 a.m. on Saturday, July 12 at the San Diego Convention Center.

Latino Expo USA is a free, family-friendly expo with fun activities and informative exhibit booths and fairs. At Latino Expo USA, the whole family can enjoy games, raffles, prizes, live music, dancing, food, and product giveaways, as well as receive information from more than 200 exhibitors. Children—and grownups—can pose for photos with favorite TV characters, including Nickelodeon’s Dora the Explorer, PBS’ Maya and Miguel, Sea World’s Shamu the Whale, and the San Diego Padres’ mascot, the Swinging Friar. There will be a Kids’ Trail sponsored by McDonald’s that will lead children and their families to child-friendly booths and a showcase of San Diego’s emerging talent to find the next generation of Latino superstars.

Saturday will kick off with the NCLR Diabetes Dash, a 5k run/walk (3.1 miles) that aims to strengthen public awareness of diabetes. NCLR Affiliate San Ysidro Health Center, Inc. will bring out their mobile health unit and a representative from the American Diabetes Association will join to share information on diabetes prevention techniques and programs, and offer diabetes screenings. The race is open to all and free registration is available at www.nclr.org/diabetesdash. On-site registration opens at 5:30 a.m. at the San Diego Embarcadero, behind the San Diego Marriott Hotel & Marina. The race begins at 7:00 a.m. Arrive earlier for the warm-up led by the U.S. Marine Corps. A free commemorative T-shirt will be available to all Dash participants.

On Saturday and Sunday, Latino Expo USA will also feature the Housing Fair and Health Fair. The Housing Fair offers free credit reports and other expert resources to families seeking information and counseling on such topics as establishing credit, qualifying and applying for mortgage loans, and finding ways to refinance mortgage payments. The Health Fair features bilingual health professionals, free health screenings, information on access to health programs and services, and family health tips. The free health screenings will check blood pressure, glucose and cholesterol levels, and test for HIV/AIDS, among other health factors. Univision Communications, Inc. will also be helping attendees register for digital converter boxes for the upcoming digital transition out of their booth.

Also on Saturday, NCLR, in collaboration with the national campaign ya es hora ¡Ciudadanía! and ConAgra Foods, will host a free citizenship application session for the first 500 eligible legal permanent residents. Sunday will also feature a free HOME Clinic to help local families find ways to mitigate the effects of the mortgage crisis. Lawyers and financial experts will provide counseling and services to participants at no charge. Finally, Monday’s focus is on recruitment opportunities and will feature a special list of exhibitors who will have Human Resources staff on hand to answer career-related questions and share information about opportunities.

MEDIA ADVISORY

WHAT:	Fun events at the 2008 Latino Expo USA, presented by NCLR
ADMISSION:	FREE Parking at the San Diego Convention Center is $8.00.
WHERE:	San Diego Convention Center / Hall D 111 West Harbor Drive San Diego, CA 92101
WHEN:	Saturday and Sunday (July 12-13)10:30 a.m.-6:00 p.m., and Monday, July 14 9:30-11:30 a.m. and 2:30-5:00 p.m. Saturday, July 12 Diabetes Dash, 7:00 a.m., San Diego Embarcadero 7:00 – 8:00 a.m. (registration and warm-up at 5:30 – 7:00 a.m.) FREE Citizenship Application Session 9:30 a.m. – 1:30 p.m. / Hall C Latino Expo USA Ribbon-Cutting Ceremony, featuring Nickelodeon’s Dora the Explorer, PBS’s Maya and Miguel, and Shamu the Whale. 10:15 – 10:30 a.m. / Hall D Latino Expo USA Health and Housing Fairs 10:30 a.m. – 6:00 p.m. / Hall D San Diego Padres’ Third Baseman, Kevin ‘Kooz’ Kouzmanoff, Autograph Signing Noon – 1:00 p.m. / Hall D at the Entertainment Stage Talent Showcase, featuring local San Diego talent, DJs, and personalities, and Magic 92.5 FM’s ‘Xavier the X-Man’. 1:00 – 4:00 p.m. / Hall D at the Entertainment Stage, hosted by Sí TV, Magic 92.5 FM, and Z-90 FM Sunday, July 13 HOME Clinic, a foreclosure prevention clinic featuring a series of workshops by housing counselors and financial services experts including Julie Stav, presented with the support of State Farm Insurance Co. 10:00 a.m. – 2:30 p.m. / Hall C 10:00 a.m. – 2:30 p.m. / Hall C Mariachi Music and Dance Extravaganza, featuring local San Diego talent hosted by Recuerdo 102.9FM and La Nueva 106.5 FM 1:00 – 4:00 p.m. / Hall D at the Entertainment Stage Monday, July 14 Career Day, featuring Human Resources staff ready to answer questions and accept résumés for open positions (see list at entrance for participating exhibitors/recruiters) 9:30-11:30 a.m. and 2:30-5:00 p.m. / Hall D

JOIN THE FUN AT THE LATINO EXPO USA, PRESENTED BY NCLR!

It’s easy to make it to the 2008 NCLR Annual Conference and Latino Expo USA. Families can avoid parking fees by taking the MTS trolley or bus service to the San Diego Convention Center. On weekends, two children ages 12 and under can ride free with an adult who purchases a transportation ticket. Visit www.sdmts.com to learn more. For more information, visit www.nclr.org/latinoexpo.

“*

Many Hispanics were urged to buy homes during the real estate boom to achieve a new found independence. They wanted a taste of the American dream. Today, due to creative financing, second mortgages and rising interest rates, many Hispanics are close to having their homes taken away. The quest for the American dream has forced many Hispanics into debt due to loans that they were not fit to have. Many were given loans they were not qualified to receive due to a lack of credit history and/or inadequate monthly income. Many were sold adjustable rate mortgages with initial low interest ‘teaser’ rates which simply delayed the day of reckoning until the mortgage reset and full interest and principle payments were due. “*

Late last year, 20-year-old Emy Palacios signed up for a program she thought would help her keep the house she owned with her mother and shared with her two younger siblings.

After a couple of housemates moved out of the house last fall, Palacios had called her lender to explain that she and her mom couldn’t make their monthly payments. The bank said she could sell her house at a loss — a short sale — and Palacios set that plan in motion.

But soon after, she heard from a real estate agent about a program that promised to shield the house from foreclosure and allow her family to stay in their home. Palacios called to find out more. She signed over the deed of her home to the program’s operators, who said an antiquated government land grant program would shelter her home from foreclosure, at a seminar in December and cancelled the short sale. She made six monthly payments of $1,500 to “rent” her home.”*

The National Council of La Raza (NCLR), the largest national Latino civil rights and advocacy organization in the U.S., announced today that presumptive presidential nominees Senators John McCain (R–AZ) and Barack Obama (D–IL) will speak at the 2008 NCLR Annual Conference held at the San Diego Convention Center, July 12-15. Other speakers at the Conference include San Diego Mayor Jerry Sanders, Los Angeles Mayor Antonio Villaraigosa, former NCLR President and CEO Raul Yzaguirre, CEO of Freddie Mac Richard F. Syron, New York Times best-selling author Alisa Valdés-Rodríguez and internationally renowned motivational speaker Samuel Betances.

“NCLR is excited to be in San Diego as we celebrate 40 years of strengthening America by promoting the advancement of Latino families. The presumptive presidential nominees and other government and business leaders speaking at NCLR’s Annual Conference will address a Latino community that is strengthening its political voice and engaging in campaigns, voter registration, and citizenship drives as never before,” said Janet Murguía, NCLR President and CEO.

The NCLR Annual Conference is the single largest gathering of its kind in the Latino community. More than 20,000 community organization leaders, activists, and volunteers; elected and appointed officials; members of the corporate, philanthropic, and academic communities; senior citizens; college students; and youth are expected to participate this year. A popular Conference attraction is Latino Expo USA with more than 250 exhibits from leading Fortune 500 companies, Hispanic-owned businesses, nonprofit organizations, colleges and universities, and government agencies.

Some highlights of the 2008 NCLR Annual Conference include:

Saturday, July 12

* The NCLR Diabetes Dash—a 5k fun run—will kick off this year’s Health Fair, which will provide free health screenings, information, and counseling on key health and lifestyle issues affecting the Hispanic community.
* A naturalization session, sponsored by ConAgra Foods, will provide information on the citizenship application process and step-by-step guidance on how to complete the required forms to become a U.S. citizen.
* Artists from MTV, MTVtr3s, and Sí TV along with NCLR youth leadership participants will participate in a youth-led Town Hall sponsored by GEICO and Microsoft that explores the growing influence of youth in the media.

Sunday, July 13

* A HOME Clinic, held in partnership with the San Diego Housing Opportunities Collaborative, will offer pro bono legal advice, housing counseling, and loan negotiation to help families facing foreclosure identify resources and assistance.
* A Town Hall presented by the Office of Minority Health and led by a panel of health experts, will address the need to reform a health care system in which millions of Latinos remain uninsured.

Monday, July 14
· Government and community leaders will come together in a Town Hall presented in part by Freddie Mac aimed at finding a solution to the national foreclosure crisis.
· The Heroes & Heritage Award for Valor and Service to Country will be presented to Sergeant Major Irene Zamora O’Neal.

Other workshops and activities will examine issues such as education, workforce development, community and family wealth-building, voting,juvenile justice, children’s health, the impact of immigration enforcement policy,and nonprofit management.

“Our Conference reflects the broad interests and involvement of Latinos in this great nation. We are working for better policies and programs in everything from education and health care to homeownership and financial security. When Latino families can get opportunities to advance, it strengthens America,” said Murguía.”*

The complaint, filed in Suffolk Superior Court, accuses H&R’s Option One Mortgage Corp. of engaging “in unfair and deceptive conduct on a broad scale.”

H&R Block was not immediately available for comment.

Martha Coakley, the state’s attorney general, who filed the suit, said H&R Block, the country’s biggest tax preparer, and its mortgage unit marketed “extremely risky loan products” and helped escalate the foreclosure crisis in Massachusetts.”*

It used to take a day or two for officers to get to an address after tenants received a notice to leave. Now, with evictions up by roughly a third over last year, Miami-Dade’s backlog is around two weeks, sometimes longer.

“It is what it is,” Officer Fernandez said, looking at a list of addresses about to be emptied. “People of all walks of life are getting evicted.”

If South Florida is a barometer for the housing crisis and the economy, the forecast does not look good. Like other areas nationwide, evictions are rising throughout the state, clogging county courts and spawning a boom in companies that specialize in “eviction services” like moving furniture to the curb.”*

Elias Escobedo, 41, lost his house earlier this month when it was foreclosed on, but not because he didn’t pay his mortgage.

Instead, he’s the victim of a real estate agent who is accused of forging the deed to his home and embezzling $40,000 in a scheme to raise his credit score and pay his monthly mortgage payments, according to the Contra Costa County District Attorney’s office.

Mortgage and foreclosure fraud is growing. According to the FBI 2007 Mortgage Fraud Report, suspicious activity reports grew 31 percent to 46,717 in 2007. The 1,204 mortgage fraud cases pursued in fiscal year 2007, which ended Sept. 30, resulted in 321 indictments and court orders for $595.9 million in restitution. In the Bay Area, counties are ranked by mortgage fraud with Santa Clara being the highest and then followed by Alameda and Contra Costa counties. The regional FBI office declined to release any further statistics.”*

Unemployment among U.S. Hispanics has risen faster than other groups, underscoring their vulnerability in the U.S. economy, analysts said.

Home ownership had risen to 50 percent among Hispanics before the mortgage credit crisis began to unfold last summer, USA Today reported Thursday.

A deteriorating home equity market, rising foreclosures and Hispanic workers’ dependence on construction jobs has decreased remittances sent to families in Latin America, the report said.”*

Jose Canseco, the former AL MVP who made millions during his baseball career, has had his home foreclosed.

Canseco told the syndicated TV show “Inside Edition” that he walked away from his $2.5 million, 7,300-square foot home in suburban Encino because it didn’t make sense to continue making payments.”*

Throughout California, the nationwide mortgage crisis — driven by adjustable-rate mortgages, subprime loans and an already plummeting economy — hit Latino families especially hard due to language barriers, unfamiliarity with the mortgage process, unforeseeable income changes and subprime lenders who didn’t verify income.

Being a Latina, Maria Enomoto, a Consumer Credit Counseling Services counselor who led the Spanish-speaking workshop, said she understands that in Latino culture, “It means a lot to own our own home. If you have your own property, you are successful.”"*

The 13th Annual Hispanic Leadership Conference kicked off Friday night at the Holiday Inn in Elyria and continues today at Lorain County Community College. The most important issue of the year in Lorain — where 21 percent of the population is Hispanic — is foreclosure, said Mike Ferrer, coalition spokesman.

“Our conference is for the line worker who every day goes to work and tries to better their lives and their families’ lives,” Ferrer said. “We’re all family. We all need to work together to touch each others’ lives. If we can do that, our county will survive. We’ve got to break this trend, where everywhere you go there are empty houses.””*

Cinema, multiculturalism, music, dance, food, workshop, stand-up comedy - and saving families from foreclosure. It’s part of the vast spectrum of topics and events at the 13th Annual Hispanic Leadership Conference.

The organizers of the organization called C.H.I.P. (Coalition of Hispanic/Latino Issues and Progress) will be covering all the bases this weekend at Lorain County Community College.”*

The housing market crash and the ensuing troubles in credit markets in the past year have caused home values to plummet, forced mortgage foreclosures, slowed the economy and put many businesses in financial peril.

First-time, low-income home buyers have been particularly hard hit as lenders are increasingly reluctant to take chances on them.

Latino newcomers have been especially impacted as North Carolina has experienced an influx of immigration, said Paul Stock, executive vice president of the N.C. Bankers Association.”*

*From: http://media.www.dailytarheel.com
Traducido: usando Google o Altavista/Babel Fish

A Solano County woman and her daughter are among a growing number of people who have lost their homes and thousands of dollars to scams targeting property owners facing foreclosure, a county official said Tuesday.

“This woman lost her house, and so did her daughter, and they gave the perpetrators $12,000, and their homes are still on the block,” said Solano County District Attorney’s Office investigator Sonny Ash.

It’s part of a rash of kick-’em-when-they’re-down schemes aimed at defrauding people desperate to save their homes, he said.”*

*From: http://www.timesheraldonline.com
Traducido: usando Google o Altavista/Babel Fish

The housing boom made construction one of San Joaquin County’s fastest-growing industries from 2002 to 2005, according to a 2006 California Employment Development Department report.

It’s a different story now. The residential building halt and mounting foreclosure crisis, the latter of which has displaced many San Joaquin County families, also have left a shortage of work for Martin and other laborers who once built and landscaped those homes.

A number of those workers - mainly the undocumented portion - head every day to Stockton’s Gateway Plaza to solicit jobs. The workers historically gathered on the block at the bottom of the El Dorado Street exit from the Crosstown Freeway to solicit daily jobs.”*

*From: http://www.recordnet.com
Traducido: usando Google o Altavista/Babel Fish

So did you know this? If you didn’t, perhaps you could send it to someone you know to help spread the knowledge and please tell them about HispanicTips.

View more “Did You Know?” facts in our “Did You Know?” section

From: http://www.tradingmarkets.com
Traducido: usando Google o Altavista/Babel Fish

More than 40,000 homes are up for sale in the area, many of them foreclosures. The numbers are enough to scare away even the most informed homebuyer.

But some real estate agents, such as Antonio Matarranz, a real estate broker and president of Avangard Real Estate Services Inc., are undaunted.

He’s still trying to get one message across to many Latinos thinking of owning a piece of the American dream: There’s never been a better time to buy a home.”*

*From: http://www.tradingmarkets.com
Traducido: usando Google o Altavista/Babel Fish

The National Association of Hispanic Real Estate Professionals will host the Asian Real Estate Association of America (AREAA) and the National Association of Real Estate Brokers (NAREB) at its 2008 Legislative Conference in an unprecedented move that brings together the top minority trade groups in the real estate industry in one forum. The three groups will discuss the devastating economic impact of mortgage defaults and foreclosures on the minority community and possible solutions at the meeting that will be held on March 27, 2008 at the Hilton Washington Hotel at 1919 Connecticut Avenue NW. For a complete schedule of the meeting, go to www.nahrep2008legislativeconference.com.

The disproportionate economic impact on minorities due to subprime mortgage foreclosures and the potential setback it will mean for minority neighborhoods sets the tone for the coalition’s discussion. Real estate practitioners, business leaders and appointed government officials will exchange ideas about proposed policy and regulatory issues in a schedule that includes:

The announcement of a five-point plan by the Minority Coalition of Real Estate Professionals that addresses foreclosures, programs needed to drive recovery in the Hispanic, Asian & African American communities.

“Economic Viewpoints from the Industry Regulators” (9-10:30 am), a session that features open forum discussions with economists from Freddie Mac, the Federal Reserve and PMI and live audience polls including an introduction by Federal Reserve Board Governor Randall Kroszner.

“An Analysis of HMDA Data to Identify Future Patterns of Mortgage Default and Foreclosures in Minority Communities” (10:30-11 am) featuring fair lending expert Maurice Jourdain-Earl, Managing Director of Compliance Technologies. Jourdain-Earl, an emerging markets consultant, will offer insights on HMDA data trends relative to minorities and the current subprime mortgage crisis.

“Housing Issues Before the Banking and Finance Committees of the U.S. Senate and House” (11:15 am-12:45 pm) – a town-hall forum featuring the heads of NAHREP, AREAA, NAREB and the National Council of La Raza and a live poll that will capture practitioners’ opinions on the current bills before the House and Senate. U.S. Treasurer Anna Escobedo Cabral will offer comments at the outset of the session.

Keynote Speaker Alphonso Jackson (12:50-2:20 pm).

“Key Regulatory Issues Impacting Today’s Real Estate Professionals” (2:30-4 pm) – FDIC Director Sandra L. Thompson will make a presentation that will also include a live audience poll of practitioners.

“The combination of defaults and foreclosures, falling values, declining markets and fewer financing options is painting a particularly dismal outlook for minority buyers if legislative measures aren’t taken soon,” said Felix DeHerrera, NAHREP Chairman. “We need solutions for the present critical issues and reforms that keep the door to homeownership open for people of color and still keep the brokers in business that serve them.”

The annual NAHREP summit will also include the installation of two new officers and eight new board members at an evening gala on March 27. Rebecca Gallardo-Serrano will succeed DeHerrera as chairman and Tino Diaz will be sworn in as vice chair.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.”*

*From: http://www.businesswire.com
Traducido: usando Google o Altavista/Babel Fish

Janet Murguía, President and CEO of the National Council of La Raza (NCLR), the largest national Hispanic civil rights and advocacy organization in the U.S., will testify on the issue of Latinos and the subprime lending crisis Thursday, February 28 before the U.S. House Subcommittee on Financial Services and General Government. The hearing will be presided over by Subcommittee Chair José Serrano (D-NY) and will take place at 10:00 a.m. in Room 2220 of the Rayburn House Office Building.

NCLR has long warned against the flaws in the mortgage system, which have left Latino borrowers vulnerable to unethical lending practices. Latino homeowners are twice as likely to end up with a subprime loan, which results in higher fees and greater susceptibility to foreclosure. Predatory lending threatens the significant gains in homeownership our community has made over the last decade. NCLR will speak to the predatory tactics targeting Latino borrowers in the mortgage, credit card, and auto loan markets. The hearing will look at consumer protection in the financial services sector as it relates to subprime lending.

MEDIA ADVISORY
WHEN: Thursday, February 28, 10:00 a.m.
WHERE: 2220 Rayburn House Office Building
WHAT: Testimony of NCLR President and CEO Janet Murguía before the House Subcommittee on Financial Services and General Government”*

*From: http://www.nclr.org
Traducido: usando Google o Altavista/Babel Fish

When Ramon Gallo bought a $300,000 home in Westborough in late 2006, he thought he had achieved his dream. Sixteen months later, Gallo, who signed for an adjustable-rate mortgage, has fallen behind on his payments and fears he may soon live a foreclosure nightmare.

Gallo, 38, who came from Mexico five years ago, is part of a wave of immigrant homeowners who have been hit hard by the national foreclosure epidemic. Reports say new immigrants, along with minorities and low-income Americans, were the targets of sub-prime loans, which played a key role in the foreclosure epidemic.

Many immigrants bought homes during the boom market five years ago, taking advantage of adjustable-rate mortgages, which made it easy at first glance to buy properties.”*

*From: http://www.dailynewstribune.com
Traducido: usando Google o Altavista/Babel Fish

Ayensa Millan, a 24-year-old community activist and DNC State Party Partnership staffer in Arizona, will deliver the Democratic Hispanic Radio Address this Saturday. Millan will discuss her impressions from meeting with Hispanic voters in Arizona and their disappointment with Senator John McCain’s betrayal on the issue of immigration and his promise of a third term of George W. Bush’s failed policies.

Millan immigrated to the United States at age 17 to be reunited with her mother after years of separation, and succeeded academically finishing high school in the top 4% of her class and graduating Magna Cum Laude from Arizona State University with dual Bachelor’s Degrees in Political Science and Psychology. Millan spent a year helping low income and middle class families facing foreclosure due to predatory lending schemes as part of community service for AmeriCorps. She Chairs the LULAC Social Justice Committee locally, is an Executive Member of the National Alumni Advisory Board for AmeriCorps, and is an active member of Somos America, a coalition for immigrant and human rights. “*

*From: http://www.prnewswire.com
Traducido: usando Google o Altavista/Babel Fish