Click here to check the ultimate guide to learn how to leverage your PC and internet to make money online.
The Washington Independent
The Washington Independent

As Congress Dithers, ACORN Urges Action on Ideas That Work

With the Senate not exactly in a rush to pass a mortgage cramdown bill, the Association of Community Organizers for Reform Now (ACORN) is out with a report that

Mariella Blankenship
News
Last updated: Jul 31, 2020 | Apr 30, 2009

With the Senate not exactly in a rush to pass a mortgage cramdown bill, the Association of Community Organizers for Reform Now (ACORN) is out with a report that cites a highly successful foreclosure prevention program that could be replicated elsewhere, with enough government support.

Since banks apparently call the shots in Capitol Hill, it’s refreshing to hear that someone is serious about trying to tackle the housing crisis.

ACORN points to a Philadelphia foreclosure mediation program that TWI has written about previously. It requires borrowers and servicers to sit down together before a foreclosure takes place, to see if both sides can work something out as an alternative to giving a home back to the bank. And in many cases, it works. That’s all the more reason why the Obama administration should put more federal resources into pre-foreclosure mediation efforts nationwide, based on the Philadelphia model, according to ACORN’s report.

Philadelphia has pioneered an innovative and remarkably effective foreclosure prevention program that requires lenders to sit down with borrowers and negotiate a mutually agreeable solution whenever possible. Approaching the one-year mark of the program’s initiation, more than three out of four homeowners who  have entered the program remain in their homes today, where in other jurisdictions they would have lost their homes. The Philadelphia program is so effective because it is mandatory, uses very effective community outreach, is easy for homeowners to participate in, and utilizes the expertise of housing counselors. Other mediation programs we investigated are less effective for lacking some of these characteristics.

Our review of monthly foreclosure statistics in 30 counties across the country and all 50 states shows that the foreclosure crisis continues to pose a serious threat to homeowners, communities, and the economy. Implementation of a mandatory mediation program as effective as Philadelphia’s will save these communities untold tragedies and significant economic losses. **The federal government should invest in these successful local programs to complement the Administration’s efforts. **[Emphasis added.]

Mariella Blankenship | Mariella is an SEO writer who helps companies improve their Google search rankings. Her work has appeared in a variety of e-zine publications. She writes articles for site-reference newletter.com on a daily basis about SEO techniques. Her articles strive to strike a balance between being insightful and meeting SEO requirements–but never at the cost of being enjoyable to read.

Related

$1.89 billion given to states to fight HIV

The federal government Monday announced more than $1.89 billion in funding to states to fight the HIV epidemic with access to care and with more cash for the failing AIDS Drug Assistance Program. According to an HHS press release , $813 million of that money will go directly to the ADAP programming. An additional $8,386,340 will be issued as a supplement to 36 states and territories currently facing a litany of unmet needs and access issues.

Army Data Shows Constraints on Troop Increase Potential

If President Obama orders an additional 30,000 to 40,000 troops to Afghanistan, he will be deploying practically every available U.S. Army brigade to war, leaving few units in reserve in case of an unforeseen emergency and further stressing a force that has seen repeated combat deployments since 2002.

1. Brian Schweitzer

As governor of Montana, Schweitzer doesn’t represent one of the most highly populated, high-profile electoral states in the country. But this

$1.3 Million for Brown

The GOP’s candidate in the Massachusetts special election raised more than one million dollars -- double the goal -- in a 24-hour moneybomb on the Ron Paul

$1.3 trillion in federal spending unaccounted for, report finds

Despite calls for independent bodies to keep government accountable, the Sunlight Foundation’s most recent Clearspending report has found the federal

#1 in Conspiracy Theories

Andrew Young’s tell-all biography of John Edwards, hitting shelves next week, is surging in one Amazon.com category in particular. #1 in Conspiracy

1 Brigade and 1 Battalion

ISTANBUL – It’s 10 p.m. in the lowest level of the Istanbul airport. In 20 minutes I’ll be allowed to board my plane to Kabul, bringing me to the

$1 Million for Toomey

Pat Toomey, the former Club for Growth president and leading Republican candidate in Pennsylvania’s 2010 Senate race, has announced a $1 million haul in the

1. Lindsey Graham

Sen. Graham (R-S.C.) is typically regarded as a reliable vote for his party, but he took the bold step of breaking with his fellow Republicans to join Kerry

Bachmann uncomfortable over earmarks ban

Republicans appear to have boxed themselves into a corner with their portrayal of earmarks as wasteful spending, as many of them have backed a moratorium on

Troubled mine holds hope for U.S. rare earth industry

China currently controls 97 percent of the world’s rare earth production. The Mountain Pass Mine could change that -- if it can overcome serious environmental concerns.

© Copyright 2021 The Washington Independent All Rights Reserved

Terms & Privacy | twi.news@washingtonindependent.com

Click here to check the ultimate guide to learn how to leverage your PC and internet to make money online.