Here is some information from the new website for the Arizona Foreclosure Prevention Task Force:
The website is located here:
Arizona Foreclosure Prevention Task Force
The Arizona Foreclosure Prevention Task Force is a Taskforce Helping to Reduce and Prevent Residential Foreclosures in Arizona.
OBJECTIVES:
• Prevent 4,000 foreclosures in 2008.
• National Ad Council ad run 6 times per week in Arizona radio, TV, and print.
• Generate 12 press releases and public interest stories.
• Coordinate 6 education/outreach town hall meetings.
• Establish partnerships with cities and counties to assist with outreach efforts.
• 6,000 calls to the HOPE Hotline.
• MOU’s with HUD Approved Housing Counseling Agencies offering certified intervention counseling.
• Offer training sessions for counselors, two of which will be Foreclosure Prevention Certification Classes.
• Promote educational materials to assist consumers and partners.
• Create a Foreclosure Prevention website that functions as a communication mechanism for counselors to exchange best practices, for impacted home-owners to gain credible information about help, and for the community at-large to understand the impact of foreclosure and how to avoid it.
• Establish a tracking system to measure impact and develop at least quarterly reports to measure progress of the initiative.
There are four subcommittees charged with meeting the task force goals:
- Education
- Outreach
- Funding
- Political & Regulations
As part of ongoing efforts to address the home foreclosure crisis gripping the nation, foreclosure prevention workshops are being held and foreclosure counseling s being made available through a hotline. These free events include a Q & A panel discussion of realtors, lenders, as well as credit and housing experts who discuss options for homeowners facing foreclosure, delinquencies, or adjustable rate mortgages that will reset to amounts they can’t afford. Other topics will include:
o How to detect housing scams targeting distressed homeowners
o How to work with lenders to keep your home
o Understanding your legal rights
o How to sell your home
Moreover, credit and housing counselors, loan servicers, and lenders will also be available to provide one-on-one consultations to homeowners. If you attend one of these workshops you are encouraged to bring loan documents and other relevant financial information.
Bill Austin - Phoenix Blog
Bill Austin
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Near the bottom it says "How to work with lenders to keep your home." Sadly, they should teach lenders how to work with homeowners.
We help save homes from Foreclosure. Let me tell you what a lender negotiated with a homeowner recently...
I was a couple of days too late to help, he took her entire salary for this month, and negotiated to take her entire salary for the next two months as well. The ARM just adjusted putting her at $400+/month over budget. With this kind of workout, she is guaranteed to lose the home unless she can find a higher paying job or she gets a second job.
She was victim of predatory lending in the first place. They did not give her what she asked for. Sadly, she didn't understand the contract. She should have never been put in an ARM, she didn't even want one. The guy who wrote the loan was obviously more interested in his commission than in meeting her needs. The collector at the bank must make a commission as well to work out such a deal with her. I asked her why she agreed to this arrangement, and she said "what else could I do? They had me over a barrel."
She will have to do a Short Sale or let the home foreclose...unless anyone out there has a solution.