State Sen. Leroy Comrie (pictured) says the Department of Housing and Urban Development’s lousy mortgage program is an “injustice pure and simple.” (Jeanne Noonan/for New York Daily News)
A Department of Housing and Urban Development mortgage program that’s supposed to help struggling homeowners is actually leaving many of them vulnerable to foreclosure — particularly African Americans, advocates and politicians said Thursday.
Many of the homeowners in danger live in southeast Queens, a bastion of black home ownership for generations.
“This is injustice pure and simple,” said State Sen. Leroy Comrie, who reps St. Albans.
The problems have been brewing since HUD began selling off defaulted Federal Housing Administration mortgages, which had been given to homeowners with guarantees that if they ran into trouble they could take steps to save their home.
HUD sued over ‘bias’ sale of black homeowner mortgages
HUD sold the mortgages for bargain prices to private equity funds, who aren’t required to give the homeowners the HUD protections like generous modification deals if they fall behind on payments.
Those protections weren’t free.
The homeowners paid thousands extra for them in closing costs, and also in insurance payments.
Queens homeowner Joseph Washington was in the process of modifying his mortgage with HUD when it was sold to a private equity firm.
Feds probing questionable NYCHA stats on lead tainted apartments
Under his new terms, the firm plans to charge him $650 more a month in five years — which he can’t afford.
“I lose sleep at night,” he said.
Filed under: foreclosure |
Would like to here from someone in Georgia Rushmore just transferred us to Selene. reginald3541@att.net
Al Murray-
I think you will be advised re bk to list the mortgage as unsecured. Let Ocwen prove that it is secured. Will be interesting. Ocwen=criminals. Had ’em for years. Their go-to attys at the time were Moss, Codilis, Stawarski. Also lowlife types.
True….contact me at feet4fins@yahoo.com
iAN: i have been in contact and have met up with Jeff Barnes
concerning my case….He will do the District Court Suit I have but not the BK…The BK is the situation that I need help with right now
@Al Murry… We both have issue with Ocwen in CO and face the same obstacles. If you would like to contact me to share info, please let me know. Perhaps we can use the Lendinglies new platform to help protect confidentiality.
Most of the subprime loans are given to Blacks and non-Whites because banks might have thought that they won’t challenge the frauds committed by the banks. The banks might have assumed that if at all it is challenged nothing would happen, which is what we are seeing for non-Whites and also for Whites. Is this some sort of a conspiracy?
Al Murray- try the offices of Jeff Barnes. He just opened a Colorado office. His website is foreclosuredefensenationwide.com. He is a tenacious litigator and his seminars are CLE approved.
Mike, you are not alone in your search for a good honest attorney that will fight for you. I am having the same problem in Colorado. The biggest mental problem that I am having is actually believing that the attorneys have my best interest in mind and that the attorney of possible choice is not included within the “Good Ole Boys” club. One does not know and never will know if the attorney of your choice is not a part of the scheme or has made agreements with the banks and the foreclosure attorney.
In my situation, I l honestly feel that I hold the winning hand, but the courts and judges are allowed to play with the jokers. 5 of a kind is hard to beat in any poker hand.
^ Finding a helpful, trustworthy, and knowledgeable lawyer in GA is like that needle in the haystack. Wishing you all the best…
Not only is Foreclosures focused on African Americans but anyone living below the Mason Dixon line, especially in Georgia, are considered Ignorant! We might talk different but it doesn’t mean we are Ignorant! I wish the Federal offices in charge, that have all the power to control and enforce, do just that! I have been fighting Chase Mortgages for over5 years and over a year ago they apparently “sold” my mortgage to Rushmore Lending who have blatantly lied and manipulated my mortgage into foreclosure with a week notice to for close and the notice they sent said we had options, with a phone call placed the same day the letter was received, was told that none of those options were available! My husband and I both are permanent disabled after over 35 solid working years with a minor child in the household and this group refused to even abide by the letter they sent and repeatedly lied on a recorded line about the laws that are in place only to make an attempt to make me feel inept and bullied! The opposite took place, it empowered us to fight for our rights and even if we are not able to win, then to at least to change the behaviour to try and prevent their tactics from harming another! The way these institutions have been allowed to get away with their “war” like tactics is absolutely appalling and the thousands of dollars given to many different law firms, that NEVER, did anything for their clients, only draining their savings is deplorable! When does any change going to take place and be the mainstay of all battles thereafter so this abuse is stopped! My health and my husbands health has deteriorated over time and our young daughters hope is questioned because we taught her if you do the right thing then the right thing is what you stand by because it is the right thing to do! What do we teach her now? We’re still fighting the good fight because we still have hope no matter what because it’s not just a house and property, its where we call home and our grandson just knows this is Granny and Papa’s house, how can you people destroy that and sleep at night, in your “home”?