As many as 3000 homeowners in Oakland may be behind in paying their mortgages or find the current value of their homes dramatically underwater; some are in danger of losing their homes. In the recent year legal actions by the Federal government and State Attorney Generals have resulted in funds and programs that might help.
Also, the City has pulled together a new program -- ROOT -- that will allow some underwater homeowners to buy back their homes at the current market value. We have instituted new protections to require maintenance of homes in and in danger of foreclosure.
And, some banks have come forward with programs that will reset home values or that offer down payment grants to new homeowners.
This FREE CLINIC sponsored by Assemblyman Swanson and I is a chance to get a comprehensive overview of all the new and free programs that can assist Oaklanders:
- Homeowners: learn about these new programs, meet with major lenders, or learn about all your options. See last Box for appointments.
- Renters in potentially foreclosed properties, you also have rights and potential assistance.
- Considering first time homeownership? There are program that can help you plan and finance.
The recession and the real estate crisis hit Oakland particularly hard. Thousands of families lost their homes over the last 5 years. As the value of some homes went down, the City lost almost $30 million in annual property taxes. Some foreclosed or abandoned homes have blighted neighborhoods.
We are now beginning to see a turn around. Please share this information with friends or family so we can better serve those families still facing thein crisis. Stable neighborhoods make a stronger and safer city for all of us!
For your appointment, please bring:
