Carson, CA - Distressed homeowners seeking loan modifications gathered at the United Samoan Congregational Christian Church in Carson for KCCD's 9th Homeownership Preservation and Foreclosure Prevention Fair on Saturday, October 9, 2010.
The event, co-hosted by the City of Carson and sponsored by U.S. Bank and Vice-Chairperson Jerome E. Horton of the California State Board of Equalization, brought hope and relief to a city reeling from high instances of foreclosure - over 250 this year alone.
"This is a national crisis that has hit Southern California particularly hard," said Hyepin Im, President and CEO of KCCD. "We are here to provide homeowners and their families hope and assistance so they can successfully navigate through the foreclosure process and keep their home."
KCCD client Maria Pacheco, shared how KCCD helped her successfully navigate the foreclosure process. After her husband lost his job and her wages were reduced, Pacheco had trouble maintaining her mortgage payments. With her son in poor health and requiring medical treatment, she reached out to KCCD for help. KCCD worked to save her home, and reduced her monthly payment by over $700. Her interest rate was reduced from 5.5 percent to 3.25 percent.
"Thank God for KCCD, who helped me through the process," said Pacheco. "For those people who are here who need help they are in the right place."
Addressing participants, City of Carson Mayor Jim Dear expressed his concern for residents of his city facing foreclosure.
"You are very very important to us," said Mayor Dear. "That's why the City of Carson is joining together with the outstanding organization, KCCD, to put on this Foreclosure Prevention Fair."
The free event drew participants from many backgrounds and ethnicities and offered translation services in Spanish, Korean and Chinese. Distressed homeowners were provided one-on-one counseling regarding the loan modification process, as well as the opportunity to submit their paperwork onsite.
Rev. John Park, former President of the Council of Korean Churches in Southern California, encouraged particpants to stay the duration of the Foreclosure Fair.
Rev. Park nearly lost his home to foreclosure, before getting a loan modification through KCCD.
"I encourage you to stay to the very end so you can get the help you need," said Rev. Park, speaking to the attendees.
Other national and local leaders and elected officials were also on hand to lend their support, including U.S. Rep. Laura Richardson (D-Long Beach), and John Trasvina, Assistant Secretary for Fair Housing and Equal Opportunity for the U.S. Department of Housing and Urban Development.
Congresswoman Richardson, who lost her home to foreclosure in 2006, shared her experience battling foreclosure, and offered words of encouragement to participants.
"I was in the exact same shoes as many of you are today," said Congresswoman Richardson, speaking to the attendees. "The most important thing you could have done in this situation . . . is to be here and to get help."
The breadth of the foreclosure crisis' impact is being felt in every sector of our society, including education.
"When I announced this foreclosure fair to my students, one student came up to me with excitement," said Jung-Sun Park, a professor with the Asian Pacific Studies Program at California State University Dominguez Hills. "Some of her family members and friends were affected by the foreclosure issue."
Asst. Secretary Trasvina emphasized the importance of avoiding loan scams, and seeking help from HUD-approved housing counseling agencies, such as KCCD.
"It's so essential to use the HUD counselors . . . they're trained, they work with us and we know they provide quality information," said Trasvina.
"No matter where you are in the process . . . the best advice I can give you is immediately pick the phone up and call a HUD-approved housing counseling agency," said Ray Brewer, L.A. Field Office Director for the U.S. Department of Housing and Urban Development. "KCCD is a HUD-approved housing counseling agency."
Ana Gonzalez, Community Affairs Resolution Specialist for U.S. Bank, echoed that sentiment, stressing the importance of working with non-profits and HUD-approved housing counseling agencies.
"They're [KCCD] able to give you the education and empowerment to understand how these programs work," said Gonzalez. Coming from a non-profit, I know how helpful KCCD has been to the City of Carson."
John Noguez, Special Assistant to the L.A. County Office of the Assessor, who almost lost his own home to foreclosure in 2009, urged participants to utilize the resources of KCCD, which are provided free of charge. He asked homeowners facing foreclosure to remain hopeful and patient throughout the loan modification process, which can often take several years.
"The process takes time . . . but I was successful and you will be too. "I am so happy that KCCD is here for you today," said Noguez.
Throughout the day, speakers strongly encouraged people facing foreclosure to seek help from organizations such as KCCD, because their services are HUD-approved and free of charge, but also because of the many scams and disreputable companies that target desperate homeowners.
The FBI alone is currently investigating over 3,000 mortgage fraud cases.
"Mortgage fraud has had a crushing impact on homeowners, financial institutions and our nation's economy as a whole," said Reginald Chapple, Community Outreach Specialist for the FBI.
In a written statement, Vice-Chairperson Horton underlined the importance of foreclosure prevention not just to homeowners, but also to the overall health of the economy.
"I would like to thank Hyepin Im for her tremendous work in this area," said Leah Wyman, Community Affairs Deputy for the Office of Vice-Chairperson Jerome E. Horton. "Because of the work she and her fabulous organization have done, thousands of people have been able to stay in their homes."
"Before we were walking blindly, and now we have a light," said Paz Velasquez, a City of Carson resident who attended the Foreclosure Fair.
Velasquez purchased her home 20 years ago, but her husband was recently laid off, and now they struggle to pay the mortgage. She worries the house she spent so many years turning into a home will be taken away.
"We see this so often at KCCD," said Im. "Many of our clients have been hit hard by the economic recession, and they come to us disillusioned and disheartened. We want people to know we are here to help and there is a light at the end of the tunnel."
Velasquez, who is currently working with a KCCD case manager, hopes that light will shine next on her.
