Title
Subject: Foreclosure Prevention/Mitigation Activities
From: Department Of Planning And Building
Recommendation: Adopt The Following Pieces Of Legislation:
1) A Resolution Supporting Foreclosure Prevention/Mitigation Activities Including 1) The Allocation Of Up to $1,200,000 From The Neighborhood Stabilization Program (A HUD Federal Grant) To Community Housing Development Corporation For Purposes Of Funding A Foreclosure Prevention Loan Fund Program; 2) The Allocation of $350,100 From Blighted Foreclosed Properties Penalties To Fund The Following: A) Community Outreach Services For $150,000 Provided By Causa Justa: Just Cause ($50,000), Family Bridges ($25,000), OCCUR ($25,000), Allen Temple Economic Development Agency ($25,000), and the Martin Luther King Jr. Freedom Center ($25,000); B) Homeowner Legal Advocacy For $100,000 Provided By The Housing Economic Rights Advocates; C) Homeownership Counseling And Loan Modification Advocacy For $50,000 Provided By The Community Housing Development Corporation; And D) Tenant Counseling And Legal Services For $50,100 Total Provided By The East Bay Community Law Center ($16,700), Centro Legal De La Raza ($16,700), And Causa Justa: Just Cause ($16,700); And 3) Requiring Staff To Develop A Foreclosure Mediation Policy For Council Consideration Should There Be Serious Problems With Bank Servicer And Lender Compliance In Oakland With The Attorney General Bank Settlement Agreement And State Homeowner Bill of Rights Act