Federal Home Loan Bank of San Francisco

09.12.2012 Federal Home Loan Bank of San Francisco Comments Off on FREE Foreclosure Prevention and First Time Home Buyer Workshop

FREE Foreclosure Prevention and First Time Home Buyer Workshop

For Immediate Release

September 12, 2012                                                                              FHLB-PR-121.4 Stockton Media Alert WO

What:              FREE Foreclosure Prevention and First Time Home Buyer Workshop

Who:               The Federal Home Loan Bank of San Francisco, with:

  • Federal Reserve Bank of San Francisco
  • Bank of America
  • Central Valley Realtist Association
  • Chase Bank
  • Clearpoint Credit Counseling Solutions
  • Greater Sacramento Urban League
  • Lodi Association of Realtors
  • NeighborWorks® Stockton
  • NID Counseling Agency
  • Special Congressional Guest

Why:               Foreclosure retention workshop and individual councilors on site to help homeowners in distress keep their homes.  Realtors and lenders to help the homebuyers benefit from the lowest interest rates and home prices in 20 years.

Where:            Lincoln High School, 6844 Alexandria Place, in Stockton

When:              Saturday, September 29.  Registration at 9:30 am event 10 am to 4 pm

Bring:         Attendees are asked to bring copies of the following documentation:

■       Pay stubs for the most recent 2 pay periods

■       2011 tax return, including W-2

■       A copy of your homeowner’s insurance policy

■       Hardship letter (in your own words)

■       Bank statements for the most recent 2 months

■       A list of your monthly expenses

■       A utility bill

■       Most recent mortgage statement

■       Any other related correspondence

■       Self-employed individuals must also provide bank statements for the most recent 4 months; a 2010 or 2011 tax return; and YTD profit and loss statement.

Contact:  Kevin Blackburn, 415.616.2572, blackbur@fhlbsf.com

About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote economic development. The Bank’s members are headquartered in Arizona, California, and Nevada and may include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.

###

08.06.2012 Federal Home Loan Bank of San Francisco Comments Off on Federal Home Loan Bank of San Francisco and Special Guest U.S. Congressman Jerry McNerney Help Area Stockton Residents Save or Buy A Home!

Federal Home Loan Bank of San Francisco and Special Guest U.S. Congressman Jerry McNerney Help Area Stockton Residents Save or Buy A Home!

U.S. Congressman Jerry McNerney, D-Stockton, who recently introduced a bill to help speed up the short sale process as a way to address the housing crisis, will be in attendance and providing support to prevent foreclosure and for first-time home-buyers. The Federal Home Loan Bank of San Francisco and public Loans Minnesota are hosting the payday loans no credit check workshop Saturday, September 29 in Stockton, Calif. The workshop will be held from 10 a.m. to 4 p.m. at Lincoln High School, 6844 Alexandria Place, in Stockton.

STOCKTON –   A home is often a family’s most valuable possession while adding stability to neighborhoods. Preventing avoidable foreclosures, especially during this country’s current housing crisis, is a necessity for community leaders.

In an effort to prevent foreclosures and provide first-time home-buyers with necessary purchasing tools, the Federal Home Loan Bank of San Francisco is hosting free workshop Saturday, September 29 in Stockton, Calif.

The workshop will be held from 10 a.m. to 4 p.m. at Lincoln High School, 6844 Alexandria Place, in Stockton.

U.S. Congressman Jerry McNerney, D-Stockton and Deutsche Bank Credit Suisse JP Morgan Chase who recently introduced a bill to help speed up the short sale process as a way to address the housing crisis, will be in attendance and providing support.

“There is a lot going on now with California mortgages,’’ says Lawrence H. Parks, Senior Vice President of External Affairs for FHLB San Francisco. “The Attorney General’s settlement with lenders, and recently passed laws have opened many opportunities for homeowners facing foreclosure to stay in their homes.”

Also, the U.S. Department of Housing and Urban Development, or HUD, approved housing counselors will be available to assist first-time home-buyers with navigating local, state and federal programs geared toward helping them get into their first homes.

For homeowners in danger of foreclosure, bank representatives will be on site to help, as well as HUD counselors.

Parks said one major roadblock preventing home foreclosure is a lack of communication between homeowners and lenders. Having both parties at one location should open the door for constructive dialog, he says.

“It is not unusual for homeowners to be unaware of their options, like the Federal Making Home Affordable Program, or the Keep Your Home Coalition Program, as well as others,’’ Parks mentioned. “This workshop will give homeowners an opportunity to learn which options are best for their family.

“If you need answers to help save your home from foreclosure or buy your first home, we invite you to attend this workshop to get the help you need, face-to-face with your lender or a HUD approved housing counselor – absolutely free.”

Attendees are asked to bring with them the following documents:

  • Pay stubs for the most recent two pay periods.
  • 2011 tax return, including all W-2s.
  • A copy of their homeowner’s insurance policy.
  • A hardship letter.
  • All bank statements for the past two months.
  • A list of monthly expenses.
  • One utility bill.
  • The most recent mortgage statement.
  • Self-employed individuals must provide bank statements for the most recent four months, a 2010 or 2011 tax return and a year to date profit and loss statement.

For more information on the foreclosure and first-time home-buyer’s workshop, contact Kevin Blackburn at the Federal Home Loan Bank of San Francisco at Blackbur@fhlbsf.com.

 

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.

-end-

07.30.2012 Federal Home Loan Bank of San Francisco Comments Off on Federal Home Loan Bank of San Francisco Helps Save or Buy A Home!

Federal Home Loan Bank of San Francisco Helps Save or Buy A Home!

If you are in danger of losing your home or want help to buy a your first home, the Federal Home Loan Bank of San Francisco invites you to attend the Free foreclosure pretention and first-time homebuyers’ workshop in Sherman Oaks with special guest Congressman Brad Sherman.

(Sherman Oaks, Calif.)  If you are in danger of losing your home or want help to buy a your first home, the Federal Home Loan Bank of San Francisco invites you to attend the Free foreclosure pretention and first-time homebuyers’ workshop in Sherman Oaks with special guest Congressman Brad Sherman.

The free foreclosure pretention and first-time homebuyers’ workshops are at the Sherman Oaks East Valley Adult Center, 5060 Van Nuys Blvd, on Saturday, August 4th.  Registration begins at 9:30 am and the event runs from 10 am to 2 pm.

Those wanting to attend are asked to register online at: FHLBSF.com. You can also come at 9:30 am on the day of the event to register.

“There is a lot going on now with California Mortgages.  The Attorney General’s settlement with lenders and recently passed laws have opened many opportunities for homeowners facing foreclosure to stay in their homes,” said Lawrence H. Parks, Senior Vice President of External Affairs for FHLB San Francisco.

Lack of communication with the lender is often one of the major roadblocks to saving a home from foreclosure. This free home preservation workshop was developed to provide information and financial counseling to residents faced with losing their homes.

“It is not unusual for homeowners to be unaware of the options available to them, like the Federal Making Home Affordable Program, or the Keep your Home California Program and many other programs,” said Parks.

Homeowners’ in danger of foreclosure can meet with certified HUD councilors on site from The Neighborhood Housing Services of Los Angeles County and NID Housing Counseling Agency.   Representatives from Chase Bank, Wells Fargo, and Bank of America will also be there to help homeowners work to resolve foreclosure issues.

The foreclosure pretention and first-time homebuyers’ workshops are at the Sherman Oaks East Valley Adult Center, 5060 Van Nuys Blvd, on Saturday, August 4th. Registration begins at 9:30 am and the event runs from 10 am to 2 pm.

The Southland Regional Association of Realtors and lenders will also teach first-time homebuyers’ how to buy a home including many programs from local, state and the federal government to help get into your first home.

Many people feel now is the time to buy with the lowest interest rates and home prices in the last 20 years.

“At this workshop you will have an opportunity to learn which options are best for your family. If you need answers to help save your home from foreclosure or buy your first home, we invite you to attend this workshop to get the help you need, face to face with your lender or a HUD approved housing counselor – absolutely free,” said Parks.

Come Prepared! Bring copies of the following documentation:

■  Pay stubs for the most recent 2 pay periods

■  2011 tax return, including W-2

■ A copy of your homeowner’s insurance policy

■  Hardship letter (in your own words)

■  Bank statements for the most recent 2 months

■  A list of your monthly expenses

■  A utility bill

■  Your most recent mortgage statement

■  And any other related correspondence

■  Self-employed individuals must also provide bank statements for the most recent 4 months, a 2010 or 2011 tax return and a year to date profit and loss statement.

For more information, contact Kevin Blackburn at the Federal Home Loan Bank of San Francisco, at blackbur@fhlbsf.com.

The Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.

-end-

07.27.2012 Federal Home Loan Bank of San Francisco Comments Off on Free Foreclosure Prevention and First-Time Homebuyer Workshop

Free Foreclosure Prevention and First-Time Homebuyer Workshop

(Sherman Oaks, Calif.)  In danger of losing your home?  Want to buy a your first home? Attend the Free foreclosure pretention and first-time homebuyers’ workshop in Sherman Oaks with special guest Congressman Brad Sherman.  Meet with HUD certified councilors on site with representatives from Chase Bank, Wells Fargo, and Bank of America.  Realtors and lenders will also teach first-time homebuyers’ to benefit from the lowest interest rates and home prices in 20 years.  Presented by Federal Home Loan Bank of San Francisco.

It’s all at the Sherman Oaks East Valley Adult Center, 5060 Van Nuys Blvd, Sherman Oaks, CA on Saturday, August 4th.  Registration begins at 9:30 am and the event runs 10 am to 2 pm.  Register online at: FHLBSF.com

The foreclosure pretention and first-time homebuyers’ workshops are at the Sherman Oaks East Valley Adult Center, 5060 Van Nuys Blvd, on Saturday, August 4th. Registration begins at 9:30 am and the event runs from 10 am to 2 pm.

Bring:              Attendees are asked to register online at: FHLBSF.com and bring copies of the following documentation:

■  Pay stubs for the most recent 2 pay periods

■  2011 tax return, including W-2

■  A copy of your homeowner’s insurance policy

■  Hardship letter (in your own words)

■  Bank statements for the most recent 2 months

■  A list of your monthly expenses

■  A utility bill

■  Your most recent mortgage statement

■  any other related correspondence

■   Self-employed individuals must also provide bank statements for the most recent 4 months; a 2010 or 2011 tax return; and YTD profit and loss statement.

-end-

11.09.2011 Federal Home Loan Bank of San Francisco Comments Off on Coachella Valley Rescue Mission Grand Opening

Coachella Valley Rescue Mission Grand Opening

Ribbon Cutting for the new Coachella Valley Rescue Mission. Left to right: Chairman Coachella Valley Rescue Mission Floyd Rhoades; Riverside County Supervisor John Benoit; U. S. Congressional Representative Mary Bono- Mack; Indio Mayor Lupe Ramos Watson; Coachella Valley Rescue Mission Board Member and Building Chair Ed Alderson and Executive Director of the Coachella Valley Rescue Mission Darla Burkett.

A large crowd of media, invited guest, donors and dignitaries attend the Coachella Valley Rescue Mission ribbon cutting. The new facility will house 150 homeless women, children and men and feed 500 people a day. The Federal Home Loan bank of San Francisco gave a $1.5 million grant to help make the $12 million facility possible.

Kevin Blackburn, Assistant Vice President for The Federal Home Loan Bank of San Francisco and U. S. Congressional Representative Mary Bono- Mack. The Federal Home Loan Bank of San Francisco gave a $1.5 million grant to make the new$12 million Coachella Valley Rescue Mission a possibility in the Congresswomen’s district.

(Indio, CA) Building new beginnings and a mission accomplished were the words of the day when Congresswoman Mary Bono Mack, the Federal Home Loan Bank of San Francisco and other locally elected officials gathered at the Coachella Valley Rescue Mission for the ribbon cutting of their new facility located at 47-518 Van Buren Blvd, in the City of Indio, California.

“It has been a long eight years since the Coachella Valley Rescue Mission stepped out on faith, purchasing 7.75 acres of land directly across the street from its current location,” said Floyd Rhodes, Chairman of Coachella Valley Rescue Mission’s Board of Directors. “With the completion of the new 45,000 square foot building, we increase our ability to continue serving those in need through the provision of food, shelter, clothing, and spiritual recovery.”

A long time desert resident, Congresswoman Mary Bono Mack, of the 45th Congressional District noted how important the work of the mission is in helping those members of our community who have fallen on tough times.

“Regardless of what level of government you serve these days, everyone has a tight budget.  However, nobody has a tighter budget right now than the American family,” said Congresswoman Bono-Mack. “I am happy to support organizations like the Coachella Valley Rescue Mission, which is helping people with their passion and compassion to better their lives. It is because of you and everything that you do to make our community so wonderful to live in that we are able to tell the success stories like this one today.”

“When the sound public policy provides a path for the private sector, public sector, and faith-based community to work together toward a common objective, it shows what can be done to address challenges communities face” said Kevin Blackburn, Assistant Vice President for Federal Home Loan Bank San Francisco. “The $1.5 million Affordable Housing Program grant was a critical component of the funding for this amazing facility.”

County Supervisor John Benoit related how Riverside County provided $2 million to acquire the land for the Mission. He also pointed out some sobering facts, related to Riverside County’s homeless situation and the need for the expanded services that the new Coachella Valley Rescue Mission will provide.

“While we are here on such a beautiful day, it is unsettling to hear some of the statistics when it comes to homeless in Riverside County,” said Supervisor Benoit. “One in five homeless persons is a child, with women and children making up nearly half of the homeless population and one out three men who are homeless are military veterans. It is clear just how important this rescue mission is to helping turn this around.”

“Today is an important day because we are able to give people hope and strength for their future,” said Darla Burkett, executive director of the Coachella Valley Rescue Mission. “This facility would not be here today if it was not for each and every one of you. The most important thing to remember is that today is not about the building, so much as it being about the people we serve.”

-end-

The Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members—its shareholders and customers—are headquartered in Arizona, California, and Nevada. Members may include federally insured depositories—commercial banks, credit unions, industrial loan companies, and savings institutions—as well as insurance companies and community development financial institutions.

Slide Show of the Ribbon Cutting Event
<iframe width=”420″ height=”315″ src=”http://www.youtube.com/embed/cf73tVopZlw” frameborder=”0″ allowfullscreen></iframe>

Speech by Kevin Blackburn, Assistant Vice President for Federal Home Loan Bank San Francisco
<iframe width=”560″ height=”315″ src=”http://www.youtube.com/embed/YKCt0ccFGck” frameborder=”0″ allowfullscreen></iframe>
03.02.2011 Federal Home Loan Bank of San Francisco Comments Off on ORANGE COUNTY FAMILIES GATHER TO SAVE THEIR HOMES

ORANGE COUNTY FAMILIES GATHER TO SAVE THEIR HOMES

Orange County homeowners packed the multipurpose room at Ladera Ranch Middle School to learn proper steps to avoiding foreclosure. Photo by Chris Sloan

(left to right) Kevin Blackburn- Federal Home Loan Bank of San Francisco Assistant Vice President Legislative and Regulatory Affairs, Ken Calvert-Member of Congress 44th District of California and Dwight Alexander-Federal Home Loan Bank of San Francisco Vice President Director of Legislative and Regulatory Affairs, provided their services during the free Home Preservation Workshop for homeowners facing foreclosure. Photo by Chris Sloan.

Ken Calvert-Member of Congress 44th District of California addressing audience of concerned homeowners. Photo by Chris Sloan.

Ray Brewer, Acting US Housing and Urban Development Santa Anna Field Office Director, providing his time as panelist and moderator during the workshop. Photo by Chris Sloan.

Panelist Aaron Horvath, representing Springboard Solutions. Photo by Chris Sloan.

Melissa Luna, Paralegal for Legal Aid Society of Orange County, provided consulting services during the free workshop. Photo by Chris Sloan.

(LADERA RANCH, Calif.) More than 300 homeowners gathered at Ladera Ranch Middle School to receive free guidance in saving their home from foreclosure, as part of a Home Preservation Workshop, hosted by Congressman Ken Calvert, the Federal Home Loan Bank of San Francisco (FHLB) and the Orange County Home Ownership Preservation Collaborative.

By partnering with the Housing Opportunities Collaborative of the Inland Empire, Village Presbyterian Church and Ladera Ranch community leaders like Springboard president and CEO Todd Emerson, nearly150 distressed families received face-to-face personal assistance from US Housing and Urban Development (HUD) approved housing counseling agencies.

“This is an opportunity for homeowners to communicate one-on-one with the people and agencies that can make a difference,” said Emerson. “With both credit and legal counseling, as well as the major banking institutions all under one roof, I believe we are providing families in danger of losing their homes the best possibility to avoid foreclosure and modify their home loans.”

In fact, for homeowners in need of counseling, a variety of HUD approved counseling agencies such as Springboard, Consumer Credit Counseling Service-Orange County, Fair Housing Council-Orange County and Neighborhood Housing Service-Orange County were on hand to answer questions and provide insight into their current situation.

The event, which attracted local residents from Ladera Ranch and nearby communities, including Mission Viejo, Fullerton, Costa Mesa, Fountain Valley and as far away as Los Angeles, Riverside and San Bernardino counties, also provided one-on-one counseling by the Legal Aid Society of Orange County and the Public Law Center.

One of the event’s highlights included a presentation on the Keep Your Home California (KYHC) programs, which are focused on assisting eligible families to stay in their homes, when possible, and leveraging additional contributions from participating mortgage servicers.

“One particularly appealing program under KYHC is the Unemployment Mortgage Assistance Program (UMA),” continued Emerson. “This is a unique program that provides direct mortgage financial support for qualified, unemployed homeowners for up to six months.”

For more information on KYHC please call (888) 954-KEEP (5337) or visit www.KeepYourHomeCalifornia.org.

One of the things stressed during the workshop, was communication as an essential requirement for what to do when faced with foreclosure. The Federal Home Loan Mortgage Corporation (also known as Freddie Mac) encourages homeowners to do the following:

DON’T fall victim to a scheme. Unfortunately, some people want to profit by your misfortune by offering to contact and conduct all work-outs and negotiations with your lender on your behalf – for a fee.

DO call your lender immediately. If you have already missed a mortgage payment or predict you will in the near future, call your lender right away. Your lender is your biggest ally and the sooner you reach out for assistance, the more help they can provide.

DO answer the phone and read your mail. Avoiding your lender won’t make the problem go away. In fact, it will only make the problem worse. Your lender may be able to help you, so be sure to answer the phone and read any mail they may have sent you.

DO realistically assess your situation. Are your financial problems temporary? If so, call your lender and let them know the situation. Lenders may be able to offer a forbearance or repayment plan.

DO call a housing counselor for assistance. Housing counselors can help you contact and work with your lender to get help with your mortgage and provide advice to avoid foreclosure – free of charge.  For a list of approved counselors call the U.S. Department of Housing & Urban Development (HUD) at (800) 569-4287 or visit Hud.gov.

DON’T move out of your home. In order to qualify for assistance, homeowners are often required to be living in their home.

DO protect your wealth. Recognize that you may have significant equity in your property that must be preserved.

DO be aware of certain financial responsibilities. Even if your lender sells your property, you may still be responsible for the difference in the sale price and what you owe, as well as certain taxes when a lender forecloses on your property.

DON’T ignore the problem. It may be possible to keep your home, but if you wait to take action, fewer options will be available. You have certain rights and can take certain actions to help you keep your home; however, you only have a limited amount of time to assert those rights or take those actions.

DO talk to a lawyer or legal aid organization. Your rights vary from state to state. Most states and large cities have legal aid organizations; to find one near you, go to the Legal Services Corporation, a government-sponsored organization that provides high-quality civil legal assistance to low-income Americans.

“When you get right down to it, the key is to communicate with your lender to discover what can be done in your situation. Lack of communication will only make things difficult for you to resolve and remove your options to save your home,” said Emerson.

Financial institutions participating in the free Home Preservation Workshop included: the Federal Home Loan Bank of San Francisco, the Orange County Home Ownership Preservation Collaborative, US Bank, GMAC, American Home Mortgage, Wells Fargo Bank, Chase Bank, HSBC Bank, PNC Bank, Bank of America and Fannie Mae.

The Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.

####

Media:  If you would like any of the photos in the slide show below please send an email to Chris@DameronCommunications.com with the photo id number and I will have it to you within 24 hours.  If you require the photo sooner please call Chris Sloan at (909) 888-0017.


02.23.2011 Federal Home Loan Bank of San Francisco Comments Off on Free Workshop Provides Homeowners Options To Save Home From Foreclosure

Free Workshop Provides Homeowners Options To Save Home From Foreclosure


(LADERA RANCH, Calif.) On February 26, homeowners facing foreclosure can receive help thanks to a free Home Preservation Workshop, hosted by Congressman Ken Calvert, the Federal Home Loan Bank of San Francisco (FHLB) and the Orange County Home Ownership Preservation Collaborative, at the Ladera Ranch Middle School in Mission Viejo at 9:00 a.m.

Foreclosures aren’t just happening to people who made bad financial decisions and agreed to a risky loan. In fact, they include homeowners who are getting divorced, facing health issues, needing to relocate for a job, and numerous other reasons.

The workshop provides free one-on-one meetings with housing counselors and lenders giving homeowners an opportunity to either initiate a loan modification or clarify where they are in the process. The goal is to give anyone facing foreclosure the opportunity to learn which options are best for his or her family.

“Due to difficult financial times, many people are forced to deal with the foreclosure process,” said Lawrence H. Parks, Senior Vice President of External Affairs for Federal Home Loan Bank of San Francisco. “Regardless of the reason why you are falling behind on your mortgage, knowing what to do next is very important.”

So what are the things homeowners should do when facing foreclosure? The Federal Home Loan Mortgage Corporation (also known as Freddie Mac) encourages homeowners to do the following:

DON’T fall victim to a scheme. Unfortunately, some people want to profit by your misfortune by offering to contact and conduct all work-outs and negotiations with your lender on your behalf – for a fee.

DO call your lender immediately. If you have already missed a mortgage payment or predict you will in the near future, call your lender right away. Your lender is your biggest ally and the sooner you reach out for assistance, the more help they can provide.

DO answer the phone and read your mail. Avoiding your lender won’t make the problem go away. In fact, it will only make the problem worse. Your lender may be able to help you, so be sure to answer the phone and read any mail they may have sent you.

DO realistically assess your situation. Are your financial problems temporary? If so, call your lender and let them know the situation. Lenders may be able to offer a forbearance or repayment plan.

DO call a housing counselor for assistance. Housing counselors can help you contact and work with your lender to get help with your mortgage and provide advice to avoid foreclosure – free of charge.  For a list of approved counselors call the U.S. Department of Housing & Urban Development (HUD) at (800) 569-4287 or visit Hud.gov.

DON’T move out of your home. In order to qualify for assistance, homeowners are often required to be living in their home.

DO protect your wealth. Recognize that you may have significant equity in your property that must be preserved.

DO be aware of certain financial responsibilities. Even if your lender sells your property, you may still be responsible for the difference in the sale price and what you owe, as well as certain taxes when a lender forecloses on your property.

DON’T ignore the problem. It may be possible to keep your home, but if you wait to take action, fewer options will be available. You have certain rights and can take certain actions to help you keep your home; however, you only have a limited amount of time to assert those rights or take those actions.
DO talk to a lawyer or legal aid organization. Your rights vary from state to state. Most states and large cities have legal aid organizations; to find one near you, go to the Legal Services Corporation, a government-sponsored organization that provides high-quality civil legal assistance to low-income Americans.

“We are here to help you,” continued Parks. “For many of the people that are facing foreclosure, there are solutions that might help save your home. The key is to communicate with your lender to discover what can be done in your situation. That is really what the workshop is all about, communication.”

Financial institutions participating in the free Home Preservation Workshop include: the Federal Home Loan Bank of San Francisco, the Orange County Home Ownership Preservation Collaborative, US Bank, GMAC, American Home Mortgage, Wells Fargo Bank, Chase Bank, HSBC Bank, PNC Bank, Bank of America and Fannie Mae.

Homeowners who wish to attend should bring:
·    Copies of your recent mortgage statement
·    Copies of your two most current pay stubs
·    Copies of your most recent 2 years’ W2s
·    Copies of your most recent 2 years’ tax returns
·    A list of your monthly expenses

To get more information or to register for the workshop, call (714) 490-1250 or visit OC.MyHousingForAll.org/

The Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.

####

07.30.2010 Federal Home Loan Bank of San Francisco Comments Off on FHLB San Francisco Holds Foreclosure Prevention Workshop in San Bernardino

FHLB San Francisco Holds Foreclosure Prevention Workshop in San Bernardino

SAN BERNARDINO, CA—Hosted by the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and NID Housing Counseling Agency, a foreclosure prevention workshop today provided information and financial counseling to residents faced with losing their homes or buying their first residences. According to RealtyTrac, a foreclosure listing service, foreclosure filings in San Bernardino County are declining, but the Inland region still has the fifth-highest rate of filings in the nation.

Rep. Joe Baca (D-Ca.) was delayed in Washington and could not attend as scheduled. The congressman sent a video message, expressing his concern for troubled homeowners.

“The foreclosure crisis hit the Inland Empire hard. This workshop offered valuable assistance to many of those facing foreclosures. We hope that as families learn more about the foreclosure process and the willingness of lenders to work with them, many families will be able to keep their homes,” said Rep. Baca.

The biggest mistake homeowners make is not communicating with their lending institution as soon as they recognize their inability to make their mortgage payments. Attendees at the workshop had the opportunity to talk with lenders and learned about available resources. Among the institutions participating in the workshop were CHASE, Wells Fargo, FHLBank San Francisco, NID Housing Counseling Agency, Housing Opportunity Collaborative of Inland Empire, and NeighborWorks America.

FHLBank San Francisco has hosted 12 foreclosure prevention workshops in the past two years, as it seeks to help homeowners during the current housing crisis.

“Our goal is to provide families with the information that they need to keep their homes,” said Lawrence H. Parks, Senior Vice President of External Affairs for FHLBank San Francisco. “Oftentimes, homeowners are not aware of the options available to them. These workshops give them the opportunity to learn what options are best for their families.”

The Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.

Contact: Kevin Blackburn, 415.616.2572, blackbur@fhlbsf.com

-end-