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Turning Crisis Into Opportunity Yes, We Will! Conference November 9, 2009 Ray Neirinckx RIHRC

Turning Crisis Into Opportunity Yes, We Will! Conference November 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)

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Turning Crisis Into Opportunity Yes, We Will! Conference November 9, 2009 Ray Neirinckx RIHRC

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  1. Turning Crisis Into Opportunity Yes, We Will! Conference November 9, 2009 Ray Neirinckx RIHRC rneirinckx@doa.ri.gov

  2. 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

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

  4. 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

  5. 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

  6. 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.

  7. 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.

  8. Resources • www2.urban.org/nnip/foreclosures.html • www.stablecommunities.org • www.foreclosure-response.org • www.dsnews.com

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

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

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