This past week, I attended a Foreclosure seminar which was part of the Fair Housing annual educational and awards presentation held in Grand Rapids, MI. The event drew a significant number of individuals representing different areas of government, business and the non-profit sector.
The foreclosure session was led by Kym Spring, the coordinator for Foreclosure Response, and featured several presenters as well as discussion and questions from the audience. I learned a lot about the profound impact that foreclosures are having in the West Michigan area including the unsettling statistic that 10% of the housing stock in our area is in some part of the foreclosure process. In Kent County, we're loosing about 10 homes a day, 7 days a week!
One of the most arresting comments came from a member of the audience. (which included several local experts) A gentleman associated with Home Repair services, an organization dedicated to helping home owners STAY in their homes shared this:
'While much is being done and invested to address the crisis through programs to help the banks and re-build communities, we should remember that it costs approximately $1,000 to help a family STAY in their home. And organizations which do this are struggling with their budgets.'
That comment for me highlighted the challenge of dealing with this crisis. Sometimes, complexity gets in the way of common sense. While there is not going to be one single silver bullet to end this crisis, we risk loosing sight of obvious steps which can be taken to alleviate human suffering and stabilize hard hit communities.
After all, if our neighbors loose their homes, we're all going to suffer. This is NOT an individual problem...it's a collective problem!
At a time when the numbers being tossed around to deal with this crisis are so staggering that we need graphs and pictures to help folks understand the size of the mountain of dollars, it was really refreshing and eye opening to hear about practical solutions which would cost far less and can be implemented at the local level.
If you're in the West Michigan area and need help because of the threat of Foreclosure, here are some reputable organizations which can be of assistance.
Legal Aid of West Michigan:
If you're a renter, being unfairly evicted due to foreclosure, call: 616-774-0672
Foreclosure Response:
Homeowners, renters and neighborhood communities can access services, self-help tools and action steps to help prevent foreclosures. Call 616-401-0680 or e-mail ForeclosureResponse@gmail.com
Home Repair Services:
These housing specialists provide FREE assistance to help homeowners work out positive outcomes with their lender. They also serve as a referral to other services which can be of assistance to people facing this challenge. Call 616-241-2601
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Lola Audu, is the Designated Broker & Owner of Audu Real Estate. Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area. You can contact us via e-mail @ info@auduhomes.com or by phone at 616-791-0511. Thanks for visiting our blog. Here are links to some of our most popular posts for you to enjoy!
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Lola--Thought-provoking post...So many really want to stay in their homes. Good information to help those in your area that want to. Hope it works for many families!
Hi Lola! Ironic isn't it.... that the answer is just as simplistic as it is.... but WHO is listening? I like your TRUE statement.... "Sometimes, complexity gets in the way of common sense." Sounds a bit like.... the wisdom of this world, eh? You hit the nail again Lola... appreciate you!
Teri, the problem is massive. One of the points that was made at the seminar was that the current proposed solutions are only impacting a small percentage of those who are affected. Thank you for your comment.
Diane, one wonders what would happen if we put as much time, money and energy into helping people stay in their homes as we have cleaning up the aftermath? Looking back, it's also clear that the complexity of mortgage products which made no sense financially were major contributors to this chaos. Complexity has gotten in the way of common sense. Appreciate you too...lots!
Lola, Such an important post, I wish it had been featured! This is the time to shrink our focus to our communities and neighbors. Just as in the old days, we all need to pitch in and help eachother. I just spent the day working with 700 Realtors in the Charlotte area helping to fix up 22 homes. At the home I worked at we replace an old wooden porch, replaced crawlspace doors, painted and cleaned up the garden. The elderly woman who owned the home was so excited as were many of her neighbors. Imagine if all 6000 of our members had signed up!
Diane, I was so glad that I took the time to attend this seminar which brought some many different segments of society together. We need more of this type of energy involved in bringing realistic solutions to this problem. Government has a part to play, but so do members of the local community. I'd like to see more dollars invested in prevention. Just seems to make more sense than dealing with a rapidly expanding mess....Thanks for stopping by.
Lola
Interesting; I did not know that about the 1,000 could help someone so much.
Tom
Sadly, the consumer and home owners have so little confidence that the government or any program can help them with their needs.
They don't know where to go. I have often thought that if the government programs would advertise their services just like the "mortgage modification" scammers do, the public would at least know that there ws help.
As it is, most programs are well hidden.
I run into people every week that are struggling good to have a list for people.
Tom, that's what caught my attention too...we've all gotten so entranced by billions and trillions, that we've lost sight of how a little bit can go a long way when the effort is well thought out, well directed and managed by competent professionals.
Lenn, it is curious how 'hushed up' we seem to be about solutions. I remember hearing about the number of people who go through the entire foreclosure process without talking to ANYONE! Two out of the three programs I've referred to, I had never heard about. And, I'm a broker in the West Michigan area. Truly our fascination with complexity has gotten in the way of common sense...
Terry, it's a great resource list. I've worked with Home Repair Services. They were excellent in follow-up and follow through. Feel free to use & pass on...
Lola, that was good information that you provided at the end of your post for local homeowners. Donna Bigda an AR member here in Connecticut, posted a blog yesterday with foreclosure numbers here in Connecticut that I was surprise were as high as they were. This is a problem every where these days.
Thanks George. So many people including even real estate agents don't know where to turn for assistance and information. I knew the number of foreclosures in Michigan was high, but it's still shocking to hear the amount documented so starkly. It is truly a national issue.