-------- Original
Message --------
| Subject: |
Families
Forced into Foreclosure & Bankruptcy - Predatory Lending Continues |
| Date: |
Fri,
18 Sep 2009 09:14:56 -0700 |
| From: |
"Stephen
M. Apatow" <s.m.apatow@humanitarian.net> |
| To: |
Emergency
Food and Shelter National Board Program <efsp.email@uwa.unitedway.org> |
18 September
2009
Humanitarian Resource Institute
Phone: (203) 668-0282
Url: www.humanitarian.net
Global Arts Integration Into Education Initiative
Url: www.unarts.org
Twitter: unarts
Dear Colleagues:
Last evening, I received a call from a predatory lending challenge that
has been on going for close to two years in Connecticut. In short, the
family according to the federal Making Home Affordable initiative, qualified for a loan
modification of approx. $960.00, yet have been forced into a $2600.00 payment
for close to a year. With no care, concern, interest or sympathy, the
bank that now holds the Countrywide loan would not modify the mortgage. Just
until recently, the bank representatives stated that they did not recognize
the federal emergency mortgage relief initiatives. This has now changed,
but the family was forced to re-submit all the paper work, once again....
now they are close to three months behind, in a scenario where they would
have been upwards of $20,000 + ahead if the criminal predatory lending issue
was resolved.
The President's Hope Hotline and consumer credit protection agency affiliate
has been recently engaged and very helpful, but despite multiple repetitive
filing demands and mediated conversations between the victim and bank, the
only communications the family is receiving are threats. The challenge
has now been escalated by the federal representatives.
Pain, suffering and damages that resulted from criminal predatory
lending, mortgage and appraisal fraud are vital, especially for those who
have been forced into foreclosure and close to 20 million non business bankruptcies,
during the last 10 years.
Our nation and financial system has collapsed due to these criminal activities,
yet the victims of the crimes have been left to suffer while those responsible
for the crimes continue to prosper. Our nation and international community
has been pushed into an economic collapse due to a challenge exponentially
larger and more severe than the Great Depression, yet economic emergency
protections have not yet been enacted.
The financial institutions that packaged these mortgages
to fuel the unregulated OTC derivatives market, continue these activities.
I watched the former Chair of the SEC on Bloomberg television the other
evening, he told the commentator there was less than a 50% chance that the
White House would be able to advance regulatory controls over the banks and
non bank financial institutions.... that the actions may never happen. In
short these financial institutions are pulling together all available resources
to stop the emergency stabilization initiatives by the United States, G-20
and United Nations member countries. It's called profit at
any cost, and we could care less if you, your family or the billions of impoverished
across the globe die. The challenge here is that the victims are
not only the poor, but middle and upper class America.
Many of the household level economic emergencies are hidden, many are unwilling
or embarrassed to ask for help. It was not until I received a direct
telephone call from the victim last evening, that I learned that despite
months of efforts, the scenario was continuing to spiral out of control.
I pray that you will join me in efforts to reach every home in this nation,
to define the true scope of needs that exist and coordination of resources
and support that will facilitate stabilization and long term recovery.
Sincerely,
Stephen M. Apatow
----------------------------------------
28 August 2009
Humanitarian Resource Institute
Phone: (203) 668-0282
Url: www.humanitarian.net
Global Arts Integration Into Education Initiative
Url: www.unarts.org
Twitter: unarts
US Economic Emergency Response Moves to the Household
Level
Two years into a national economic emergency, the crisis
on the household level has been virtually ignored. It's time for
this to change. Emergency management leaders in Washington have noted
the severity of this crisis, that has not yet been treated as a crisis.
Disinformation, regarding unemployment statistics is one variable
that has contributed to the confusion, since in June real unemployment
reached 18.2 percent:
Nearly
30 million working-age individuals were underutilized
in May 2009, the largest number in our nation’s history. The overall labor underutilization
rate in May 2009 had risen to 18.2 percent, its highest value in 26
years. -- No Recovery in Sight, New York Times, 27 June 2009.
This statistics represents 30 million families in crisis and in need
of emergency assistance.
Disaster economic emergency
management discussions have included:
- Declaration of a state of emergency, municipal, state
than federal disaster declaration.
- Treating
the economic crisis as a post natural disaster incident, with house to
house needs analysis (every community, every U.S. county), to provide
a foundation for strategic implementation of resources needed for stabilization.
This includes a fast track, emergency pathway for bankruptcy protection
to stop all U.S. foreclosure actions with long term sustainable court directed
modifications. With 18.2 percent real unemployment, this may mean
a modified payment structure or deferment for the time period in which
the state of emergency is active.
- 8-12
million foreclosures projected during the next 4 years represents a systemic
economic collapse scenario, that may require an active declaration for
a period equal to this projected period, or until stabilization and functional
self sufficient recovery is achieved.
- Systemic
needs analysis, on the city/state level to accommodate access to low
interest rate emergency loans, in conjunction with restructuring of municipal
and state budgets under bankruptcy level protections.
Churches, interfaith and disaster organizations
are being asked to lead corporate, small business and household level needs
assessments, and emergency resource support, today.
In conjunction with the community level efforts, the National Voluntary Organizations
Active in Disaster (NVOAD) provides a direct link to <DisasterAssistance.gov>
where businesses and families can complete a pre-screening questionnaire
and application for emergency assistance, today.
Soundtrack "Special Forces Prayer" proceeds to support
Veterans and Wounded Warriors Advocacy
Our members of the armed forces protect all United States citizens
with their lives, it is time that we show respect, honor and gratitude
for their sacrifice. This need has prompted a national call for all
communities, businesses and corporations to commit special programs
and assistance for current members/veterans of our armed forces, our most
severely wounded
warriors and wounded transitional. Discussions on the table
include:
- Jobless rate at 11.2% for veterans of Iraq, Afghanistan:
The 11.2% jobless rate for veterans who served in Iraq and Afghanistan and
who are 18 and older rose 4 percentage points in the past year. That's significantly
higher than the corresponding 8.8% rate (3.20.2009) for non-veterans in
the same age group, says Labor Department economist Jim Walker. -- Article, USA Today, 20 March
2009. See Also: VetJobs:
America's Premier Job Board for Veterans.
- Untold Mortgage Crisis: Families Facing
Military Foreclosures: According to one recent study, the number
of foreclosures in military towns are four times the national average.
Why? Because military families were targeted as customers during the boom
in subprime lending. Their frequent moves, overseas stints, and low pay
meant they were likely to have weak credit ratings. The initial low rates
and easy terms of these loans made them more attractive than the traditional
route of taking out a Veterans Administration (VA) loan. In fact, at the
peak of the U.S. subprime lending, the number of new VA loans fell to their
lowest level in 12 years. - Article: Veterans Today, 14 October 2008. See: Crime Victims of Predatory lending,
Humanitarian Resource Institute.
- Homeless
Veterans: The VA estimates that 131,000 veterans are homeless on
any given night. And approximately twice that many experience
homelessness over the course of a year. Conservatively, one out of every three
homeless men who is sleeping in a doorway, alley or box in our cities and
rural communities has put on a uniform and served this country. The
vast majority are single, most come from poor, disadvantaged communities,
45 percent suffer from mental illness, and half have substance abuse
problems. America’s homeless veterans have served in World War II, Korean
War, Cold War, Vietnam War, Grenada, Panama, Lebanon, Operation Enduring
Freedom (Afghanistan), Operation Iraqi Freedom, or the military's anti-drug
cultivation efforts in South America. 47 percent of homeless veterans
served during the Vietnam Era. National Coalition for Homeless Veterans: 1-800-VET-HELP.
- More
female veterans are winding up homeless; many are single parents: One
out of every 10 homeless vets under the age of 45 is now a woman, the statistics
show. Overall, female veterans are now between two and four times more likely
to end up homeless than their civilian counterparts, according to the VA,
most as a result of the same factors that contribute to homelessness among
male veterans: mental trauma related to their military service and difficulty
transitioning into the civilian economy. -- Article: Boston Globe, 2 July
2009.
To assist with advocacy initiatives to address these unmet needs,
Country Music Association Artist Stephen Michael Apatow is dedicating the soundtrack
"Special Forces Prayer"
from the album compilation "Country Goes Global" to this cause. The words were written in 1961
for William Pelham "Bill" Yarborough, by SF Chaplain John Stevey, the
7th SFG (ABN) Chaplain.
Rock The World Campaign
Rock The World: "Bridging Unmet Needs to Untapped Resources"
Artists/professionals, arts organizations, music labels (management,
arrangers, producers), film production and media companies asked to join
together in the coordination of local events to spotlight the size and
scope of unmet needs on the community level, strategic planning and development,
with emphasis on reaching families and organizations in crisis, that have
fallen through the cracks. Additional information is available on
the "Global Arts Integration Into Education Initiative"
web site.
Internet:
www.unarts.org
Twitter: unarts
"When campaigning, be swift as the wind; in leisurely
march, majestic as the forest; in attack, like fire; in standing, firm as
the mountains. As unfathomable as the clouds, move like a thunderbolt," to
protect the weak. - Adapted from Sun Tzu. "The Art of War" -
The Ultimate Objective:
Humanitarian Resource Institute.
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