BONITA, California (Press Release) – In an effort to help San Diegans hardest hit by the home foreclosure crisis, Assemblymember Marty Block (Democrat, San Diego) convened a workshop March 31 at the Bonita-Sunnyside Library to advocate for the region’s fair share of $700 million in newly available federal funding to assist those directly at risk in the current foreclosure crises.
Block partnered with the California Housing Finance Agency (CalHFA), community groups and stakeholders to highlight how the money could be used to assist those in San Diego who are struggling with their mortgages, in this difficult economy.
“Too many of our friends and neighbors face losing their homes, and this funding would greatly assist San Diegans to provide them with the resources they need to stay in their homes and maintain their lives,” said Assemblymember Block. “I brought together individuals and organizations which are at the front line of the foreclosure crisis to inform CalHFA officials how Californians in the region are struggling in the aftermath of the foreclosure crisis and urged them to direct as much of the funding to San Diego County as possible.”
Those gathered included representatives of nonprofit agencies and local government, realtors, home mortgage counselors, and other industry representatives. The group provided important information to CalHFA about their working relationships with borrowers struggling to make their mortgage payments, what kinds of programs actually work to keep people in their homes, how program dollars could be used most effectively for San Diego.
The funding announced on February 19, 2010 by President Obama will help families in states where house prices have fallen more than 20% from their peak, like California. Some potential programs for the funds might include, but are not limited to, subsidizing unemployed borrowers, providing assistance with past due payments, assisting with long-term loan modifications, or extinguishing junior liens.
“We owe it to our communities to fight for our fair share, and to help those who need it most,” continued Block. “CalHFA received a wealth of information about our region, and I know they left the meeting with a clearer understanding of how hard hit our neighborhoods have been during this crisis, the level of assistance desperately needed here to help homeowners stay in their homes, and the kinds of assistance that will work for San Diegans in the long-run.”
For additional information on the workshop or other information from Assemblymember Block, please call his office at (619) 462-7878.
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Preceding provided by Assemblyman Marty Block