Margert in the News
Margert Provides
Assistance to Renters Affected by Mortgage Foreclosures
The Full Story
Margert Community Corporation, through the New York City Council Housing
Preservation Initiative (HPI) and Anti-predatory Lending program, is addressing the effects of renters being
evicted from their apartments due to predatory lending and/or the home mortgage
loan foreclosures crisis in the 31st District.
Under the HPI, Margert has been able to strengthen its existing predatory
lending and mortgage foreclosure prevention activities and increase its capacity
to assist renters facing the eviction/foreclosure process. Program activities
focus on the immediate threat to our affordable rental housing environment based
on the increasing number of unexpected mortgage foreclosures.
On Tuesday, February 17, 2009, between the hours of 6:00 pm – 8:00 pm,
Margert will join forces with the
Legal Aid
Society to provide information on the tenant’s legal rights during
foreclosure and available resources for tenants in distress.
Presented at the Father Tessier Learning Center on 38th Street in Far
Rockaway, this one-evening workshop is designed to help tenants who are in
danger of being evicted through a post foreclosure situation.
View
outreach flyer.
LAWYERS & COUNSELORS WILL BE AVAILABLE TO ANSWER YOUR
QUESTIONS.
Margert's Housing Preservation and Anti-predatory
Lending services are funded by the NYC Council through the Department of Housing
Preservation and Development. Margert is also a housing counseling agency
for the Center for NYC Neighborhoods (CNYCN), and a partner with the
Neighborhood Economic Development Advocacy Project (NEDAP) in the NYS DHCR
Subprime Foreclosure program.
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Discover Mortgage
Solutions through President Obama's Financial Stability Plan
The Full Story
The Obama Administration has introduced a comprehensive Financial Stability
Plan to address the key problems at the heart of the current crisis and get our
economy back on track. A critical piece of that effort is
Making Home
Affordable, a plan to stabilize our housing market and help up to 7 to 9
million Americans reduce their monthly mortgage payments to more affordable
levels.
The Home Affordable Refinance Program gives up to 4 to 5 million homeowners
with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to
refinance into more affordable monthly payments. The Home Affordable
Modification Program commits $75 billion to keep up to 3 to 4 million Americans
in their homes by preventing avoidable foreclosures.
Margert Community Corporation is ready, willing and able to help homeowners
seek out solutions to their mortgage difficulties.
Please join us at a very special workshop designed to explore the intricacies
of President's Obama major new initiatives to assist homeowners in distress.
Our workshop will provide homeowners with detailed information about these
programs along with self-assessment tools and calculators to empower borrowers
with the resources they need to determine whether they might be eligible for a
modification or a refinance under the Administration's program. Through this
workshop, borrowers will connect with free housing counseling resources to help
with outstanding questions, locate other homeowner assistance options, receive a
handy checklist of key documents and materials to have ready when dealing with
their servicer as well as FAQs that every homeowner needs to know.
Two workshops will be offered:
Tuesday, April 21, 2009 - 6:30 to 9:00 pm
Saturday, April 25, 2009 - 11:00 to 3:00 pm
Agenda:
A. Budgeting
B. Legal
• Foreclosure Timeline in New York
• Players in the Mortgage Transaction (Lender, Investor and
the Servicer)
C. Loss Mitigation Options: 8:00 pm – 9:00 pm
• Incurable vs. Curable Options
• Obama’s 2% Mortgage Rate Program
Pre-registration for these events is strongly encouraged;
email registrations
accepted.
View outreach flyer.
Support for Margert's Home Mortgage Foreclosure Prevention counseling
services is provided by New York City Council discretionary funding administered
through NYC HPD.
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Margert Awarded NYS
Affordable Housing Grants to Assist Seniors and the Disabled
The Full Story
"At a time when many New Yorkers are affected by the economic
downturn, we must ensure that our most vulnerable are protected and
provided with the resources they need. This critical funding will
provide affordable housing to thousands of New Yorkers statewide,"
said
Governor Paterson. "I will continue to work to target our
State's resources in a way that provides relief to working families,
who are struggling during the current economic crisis." The $31.4
million in grants have been awarded to not-for-profit agencies and
local municipalities. These funds will be used in rural, suburban,
and urban communities, across every area of the State, to make
necessary repairs and modifications to the homes of eligible low
income households. A full listing of projects by region is included
below.
Division of Housing and Community Renewal (DHCR) Commissioner
Deborah
VanAmerongen said: "The local governments and not-for-profit
housing agencies receiving these grants help DHCR reach out to
residents who most need our assistance. By working together
collaboratively, we can help senior citizens repair dangerous
conditions in their homes and allow people with disabilities to make
their homes safe and accessible, so they can remain in their
communities and avoid unnecessary institutional care."
Congressman Gregory Meeks said: "I am greatly pleased
with the $31.4 million of grants for affordable housing
for the State of New York that will help provide
essential funding for people who are senior citizens,
suffer from disabilities and who come from low-income
households. These grants come at a critical time when
many New Yorkers have been hit hard by the current
financial crisis and cannot afford to make repairs or
modifications to their homes. I look forward to working
with Governor Paterson and the State of New York to make
sure that the provisions under these grants are carried
out to the maximum benefits of the 6th Congressional
District that have been hit hard by the financial
crisis."
Senate President Malcolm A. Smith said: "New Yorkers
cannot work where they cannot afford to live. The
funding for housing repair and rehabilitation announced
by Governor Paterson will keep thousands of working
families in their homes and provide those most in need,
including seniors and the disabled, with the lifeline
they need to remain safe."
These $31.4 million in awards will be delivered through three
DHCR Programs...
Margert was awarded $ 225,000 through the
Access to Home program, and $ 75,000 through the RESTORE program.
ACCESS to Home - ACCESS to Home provides financial assistance to
property owners to make dwelling units accessible for low- and
moderate income frail elderly and persons with disabilities. These
modifications allow individuals to safely and comfortably continue
to live in their homes.
RESTORE - RESTORE (Residential Emergency Services to Offer Repairs
to the Elderly) helps low-income elderly homeowners pay for
emergency repairs to eliminate hazardous conditions in their homes. View
full story
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Rising Unemployment Accelerates Foreclosure Crisis
The Full Story
WASHINGTON (AP) - Relentlessly rising unemployment is triggering more home
foreclosures, threatening the Obama administration's efforts to end the housing
crisis and diminishing hopes the economy will rebound with vigor.
In past recessions, the housing industry helped get the economy back on
track. Home builders ramped up production, expecting buyers to take advantage of
lower prices and jump into the market. But not this time.
These days, homeowners who got fixed-rate prime mortgages because they had
good credit can't make their payments because they're out of work. That means
even more foreclosures and further declines in home values.
The initial surge in foreclosures in 2007 and 2008 was tied to subprime
mortgages issued during the housing boom to people with shaky credit. That
crisis has ebbed, but it has been replaced by more traditional foreclosures tied
to the recession.
View
full story
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