Turning Crisis Into Opportunity

Yes, We Will! ConferenceNovember 9, 2009

Ray Neirinckx RIHRC

rneirinckx@doa.ri.gov

Knowledge is Power.

Resources are available to assist at-risk homeowners.

* HAMP (Home Affordable Modification Plan)

* Lender-driven support such

as Bank of America and HOPE NOW

Knowledge is Power• HAMP news: www.makinghomeaffordable.gov• HOPE NOW news: www.hopenow.com • Local support the work of advocates, activists,

CDCs, CAPs , government.

Neighborhood Stabilization

• How do we protect not only homeowners but the neighborhood in reducing foreclosures?

• A Responsible Approach to Neighborhood Stabilization http://www.stablecommunities.org/redevelop

The Ripples of Foreclosures

We know the impact of foreclosures on families in our state:

• Displacement & homelessness• Family finances- credit repair/asset losses• Mental & Physical health of adults/children• Elder impact on health, housing & income• Family Breakup• Educational challenges

Don’t Forget the Tenants

• As of May 20, 2009, tenants are protected by the Federal Tenant Protection Act.

• As of September 2009, tenants in the City of Providence are protected from eviction due to a foreclosure.

Yes, We Can Call to Action

• The State of Rhode Island Should Institute a Moratorium on all Foreclosures Due to the High Rate of Unemployment and the Highest Rate of Foreclosures in New England.

Resources• www2.urban.org/nnip/foreclosures.html

• www.stablecommunities.org

• www.foreclosure-response.org

• www.dsnews.com

Conclusion

• In the future the question will not be, "Are people credit-worthy", but rather, "Are banks people-worthy?" - Muhammed Yunus (Nobel Prize winner)

http://www.sweet-juniper.com/2009/07/feral-houses.html

& http://www.forgottenprovidence.com