As Weimin Tchen set out last Sunday to talk to Somerville residents in danger of losing their homes he carried a folder loaded with pamphlets and lists of resources, wearing a green name tag showing he was a Community Action Agency of Somerville (CAAS) volunteer. "It's more practical for tenants if they negotiate, rather than foreclose, but many people don't know that," said Tchen, a Melrose resident. It's also a pretty complicated process that a lot of people don't understand, said CAAS intern Emma Dillon. CAAS and the Cambridge & Somerville Legal Services (CSLS) Sunday went door-to-door for a foreclosure outreach campaign to talk to tenants and owners on the foreclosure list about their rights and how it may be possible for them to stay in their homes. About a dozen volunteers appeared for the information and training session before heading out armed with the list of homeowners who CAAS and CSLS identified as being in one of the stages of foreclosure. The list came from public records that were printed in local newspapers. There are 161 properties in Somerville in the various stages of foreclosure, said April Kuehnhoff, an attorney-to-be (she just passed the bar exam) for CSLS. Of those, 17 are bank owned, 17 have been resold to private individuals, 37 have had foreclosure auctions scheduled and 90 have had orders sent of the intent to foreclose (with no further process) sent to them. CAAS has been tracking evictions for about 15 years, and typically they see about one or two this year, said Melissa McWhinney, the CAAS director of outreach. To see 161 homes pop up on the foreclosure schedule list was alarming, which led CAAS and CSLS to reach out to tenants. Somerville is faring better than many other communities, such as Chelsea, Dorchester, Lynn, Lowell, and other parts of Boston, McWhinney said. Somerville property values have been fairly stable during this past year's housing crisis. When homes are sold at inflated prices, but valued at less than what they are bought for, that is when communities get into trouble, she said. Somerville has not seen those fluctuations. The foreclosure process is complicated, and takes a long time. That is why volunteers were instructed to tell people that CAAS and CSLS will hold a meeting on Nov. 17 at 6:30 p.m. at the CAAS office at 66-70 Union Square to answer questions. Lawyers will also be present. It takes about a year from when a person first misses a mortgage payment to when they receive an eviction notice, though it really varies due to the numerous stages that occur (see sidebar below). Rachel Bedick, CAAS' outreach organizer, said it's nerve wracking when first knocking on doors. Some owners may not even know their homes are being foreclosed, even after it's published. Volunteers were armed with flyers in four languages-English, Spanish, Portuguese, and Haitian Creole. They also had language booklets with key phrases and to help them identify what languages people might be speaking if they were unsure. The residents were told to relay how CAAS and CSLS can help people stay in their homes, find rental assistance, seek advice, or refer them to another source who could help them. The volunteers also stressed that the foreclosure process is lengthy, and that no one would be kicked out of their home in the near future. Ari Daniel Shapiro lives around the corner from the CAAS office. He showed up on Sunday to knock on doors to support his community and gain a better understanding of the diversity that exists outside his doorstep. "It's a big issue," he said. "I just wanted to be a part of it." You can reach CAAS at (617)-623-1392 or rbedick@caasomerville.org. A sample foreclosure timeline Note: Each states' foreclosure law differs so here is a general time line of the process. 1. Missed payment-Usually the mortgage payment is due the first of the month. A late fee is assessed after the 15th day of the month. 2. Demand letter- After the 60 days of missed payments a demand letter is sent to the homeowner in attempts to collect and giving them 30 days to resolve the delinquent amount. 3. Notice of default- After 90 days of missed payment, the loan is transferred to the foreclosure department. The notice of default is then recorded with the county the property is located in and mailed out to the homeowner within ten days the default is recorded. The homeowner is given 90 days from the recorded date to resolve the default. 4. Notice of Sale- If after 90 days from the recorded date, the default is not resolved then a notice of sale will be recorded. This notice states that the lender will sell the property in 21 days. The copy of the notice will be sent to the homeowner, posted in the county paper for three consecutive weeks and at the county courthouse. 5. Trustee Sale- After 21 to 25 days of the notice of sale, the property is sold at a foreclosure sale or auction. 6. Real Estate Owned- when a property is not sold at auction, then the lender lists the property with an REO broker. 7. Eviction- if the property is sold to the highest bidder, then the eviction process starts for the foreclosed owners. Source: http://EzineArticles.com/?expert=Kayla_Hoang | ||||







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