Comments on: Neighborhood Stabilization Program Begins http://banktalk.org/2008/10/14/neighborhood-stabilization-program-begins/ Exploring the Finances of the Unbanked Thu, 17 May 2012 04:33:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: valiera best http://banktalk.org/2008/10/14/neighborhood-stabilization-program-begins/comment-page-1/#comment-88 valiera best Wed, 22 Oct 2008 22:22:34 +0000 http://thisismyhomebook.wordpress.com/?p=324#comment-88 I am looking for a sample letter of intent for the neighborhood stabilization program I am looking for a sample letter of intent for the neighborhood stabilization program

]]> By: Anonymous http://banktalk.org/2008/10/14/neighborhood-stabilization-program-begins/comment-page-1/#comment-87 Anonymous Thu, 16 Oct 2008 19:13:15 +0000 http://thisismyhomebook.wordpress.com/?p=324#comment-87 Zeller- I agree with you. Not enough is being done for families. The bailout is largely a bill in favor of Wall Street, as Sheila Bair pointed out this morning. The $52 million is just for North Carolina. Its part of a $3.92 billion program in the Housing and Economic Recovery Act. It is not a program focused on mortgage workouts. We really haven't seen that program yet. It is a bill to help municipalities buy abandoned or foreclosed housing, rehab it, and return it the market (homeownership or rental) in short horizon. Zeller-

I agree with you. Not enough is being done for families. The bailout is largely a bill in favor of Wall Street, as Sheila Bair pointed out this morning.

The $52 million is just for North Carolina. Its part of a $3.92 billion program in the Housing and Economic Recovery Act.

It is not a program focused on mortgage workouts. We really haven’t seen that program yet. It is a bill to help municipalities buy abandoned or foreclosed housing, rehab it, and return it the market (homeownership or rental) in short horizon.

]]> By: pzeller http://banktalk.org/2008/10/14/neighborhood-stabilization-program-begins/comment-page-1/#comment-86 pzeller Thu, 16 Oct 2008 15:52:57 +0000 http://thisismyhomebook.wordpress.com/?p=324#comment-86 Helping communities develop strategic plans to counter home foreclosures with only $52 million may - at this time - be a bit late in the game. Foreclosure Prevention Programs have not been very successful in recent years. The larger pool of families in need at this time, are the ones who have already lost their home to foreclosure. Their displacement has destabilized neighborhoods, school enrollment and left a gaping hole in the fabric of community that will - if left unaddressed - take many decades to repair. In one American City, the Foreclosure Hotline boasts helping 4% (not a typo) of the callers actually keep their house. What happens to the 96% who are not candidates for the Hotline Program? They are foreclosed. Seems like a low success rate since almost 70% of the people who are foreclosed are gainfully employed. Yet there is NO PROGRAM IN PLACE TO ADDRESS THE NEEDS OF THOSE WHO HAVE BEEN FORECLOSED. I invite you to look at one of my ideas that can be a Grass Roots movement to reclaim our communities, help our neighbors and ourselves. It will take some funding assistance - hence the reason to raise a racket to local government, but I think the numbers bear out: If the Post Foreclosure Program can save $8 million in municipal costs associated with foreclosure, would it be worth launching a pilot program to test the theory? A pilot program would likely cost less than $250K and could be accomplished in less than 6 months of testing for full scale launch. Please view the white paper on the Post Foreclosure Program at: http://pzeller.wordpress.com/2008/08/14/foreclosureoptions/ I welcome comments and new ideas to make this Country and our neighbors secure in their home - even if they have to rent for a few years before we can get them back into home ownership. Respectfully, P. Zeller Helping communities develop strategic plans to counter home foreclosures with only $52 million may – at this time – be a bit late in the game. Foreclosure Prevention Programs have not been very successful in recent years.

The larger pool of families in need at this time, are the ones who have already lost their home to foreclosure. Their displacement has destabilized neighborhoods, school enrollment and left a gaping hole in the fabric of community that will – if left unaddressed – take many decades to repair.

In one American City, the Foreclosure Hotline boasts helping 4% (not a typo) of the callers actually keep their house. What happens to the 96% who are not candidates for the Hotline Program? They are foreclosed. Seems like a low success rate since almost 70% of the people who are foreclosed are gainfully employed.

Yet there is NO PROGRAM IN PLACE TO ADDRESS THE NEEDS OF THOSE WHO HAVE BEEN FORECLOSED.

I invite you to look at one of my ideas that can be a Grass Roots movement to reclaim our communities, help our neighbors and ourselves. It will take some funding assistance – hence the reason to raise a racket to local government, but I think the numbers bear out:

If the Post Foreclosure Program can save $8 million in municipal costs associated with foreclosure, would it be worth launching a pilot program to test the theory? A pilot program would likely cost less than $250K and could be accomplished in less than 6 months of testing for full scale launch.

Please view the white paper on the Post Foreclosure Program at: http://pzeller.wordpress.com/2008/08/14/foreclosureoptions/

I welcome comments and new ideas to make this Country and our neighbors secure in their home – even if they have to rent for a few years before we can get them back into home ownership. Respectfully, P. Zeller

]]> By: Tony Orlando http://banktalk.org/2008/10/14/neighborhood-stabilization-program-begins/comment-page-1/#comment-85 Tony Orlando Tue, 14 Oct 2008 14:00:53 +0000 http://thisismyhomebook.wordpress.com/?p=324#comment-85 Can you tell me who did your layout? I've been looking for one kind of like yours. Thank you. Can you tell me who did your layout? I’ve been looking for one kind of like yours. Thank you.

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