Non Porifit Organisations Mainly Helping Foreclosure Victims

It is the non-profit community workers in US who are carrying on most of the work of helping the foreclosure victims.

Mohammed Ibrahim working in one such unit in Staten Island says he is overwhelmed with SOS from troubled foreclosure victims. It is also emotionally taxing with each person coming with a different harrowing tale to tell. Often tears are spilled. In October the weight of work became even heavier with the national help-line groups referring to the local counterparts. During the first nine months Ibrahim handled 77 cases but in the last three months of the year there were 63 calls of help. After the holidays January is gearing up for even more activity. Ibrahim is trying to help Agnes Kallon and Bai Turray. Kallon is a nursing assistant and Turay lives off a disability allowance. The couple has six children and a combined income of $39,000. In 2005 they took a sub-prime loan of $12,000 and moved into a house. But soon rates began to spike. Brokering an understanding between borrowers and lenders is just eating into time – precious time that is worsening the foreclosure situation.

A lot is being heard about government action but nothing concrete is filtering through, comments another non-profit group’s worker, Eileen Anderson. In 2007 calls of help to her centre rose ten times compared to the previous year. Since October half of these calls have been referrals from HOPE NOW. The latter despite much trumpet blowing is not offering much financial help – this is the general complaint from counselors as well as seekers of help.

In the third quarter of 2007 foreclosure listings hit an all time record of 1.69% compared with 1.05% during the same time in the previous year.

Tracy Morgan works with Homeownership Preservation Foundation as part of HOPE NOW. Since joining the alliance in October it has already received 140,000 calls for help. She says 37,000 required advice. Of these 29% needed extra advice from their community. Her foundation gets no financial support from the alliance of HOPE NOW.

Those making calls to the hotline from places like Stockton, complain of poor response. There are still some gaps in the infrastructure that needs to be properly linked up. New recruits are being absorbed to add strength and efficiency. It is an elephantine problem of jumbo proportions on a national scale. It needs to be attended to on a war footing.

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