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  • 1. Government sponsored programs
    • An overview of considerations when initiating a County-run Foreclosure Prevention program w/various approaches
          • Mark Wiseman – Director, Cuyahoga County Foreclosure Prevention Program
          • 216.443.7461
          • [email_address]
  • 2. Foreclosure Prevention
    • Where the heck did the County Go?
        • Mark Wiseman, Director
        • Cuyahoga County Foreclosure Prevention Program
        • [email_address]
        • 216.443.7461
  • 3. Causes of problem
    • Community specific
      • Predatory lending
      • Home Improvement Fraud
      • Economy
      • Flipping
      • Refusal on part of lenders to accept deeds in lieu
      • Workout issues
  • 4. Overall premises of program
    • Borrowers don’t realize the need to contact lender
      • Freddie Mac study
    • Practical reasons for ostrichization
      • Collectors v. loss mit
        • Practical help not avail until borrower seriously delinquent
      • Workability issues
    • Counselors provide a real benefit
  • 5. Overall Premises (2)
    • Borrowers can be educated to make the proper decisions
    • Predatory lending exists
    • Gov’t can be educated about their role in stopping Fraud
      • Follow up on building permits
      • Educate homeowners
      • Attack fraudulent actors
  • 6. Prep work necessary for program
    • Agency assessment
      • Site visits/self-appraisals
      • Funds available v. anticipated needs
    • Raise money
    • Knowledge of all players in community
    • Knowledge of Bad guys, Schemes, Problem products
  • 7. Prep Work (2)
    • Financial partners/Non-financial partners
    • Gov’t players must work together
    • Capitalize on gov’tal experience dealing w/counseling agencies
    • Put together marketing package
    • Credibility in public’s eyes necessary
  • 8. Special circs that will foster success
    • Existence of non-profit community
      • Experienced, primed, willing
    • Does situation need drastic action?
    • Is Gov’t ready to act in a leadership role?
    • What is overall climate?
    • Are suburbs involved?
  • 9. Special circs (2)
    • Vacant homes costing money
      • One Cuy Cty municipality budgeting > $750,000/yr to maintain vacant homes
    • Vision, insight and courage on behalf of gov’t
      • “ Predatory lending” not exactly popular term
    • Local lending community willing to take steps
  • 10. Practical aspects
    • Does program need one intake line as destination for calls?
    • Counseling available to borrowers at all phases of the home loan process
    • Education at all phases
    • Agencies involved in creation of program
    • Will County operate program v. provide information?
  • 11. Marketing Program
    • Must complete groundwork, before campaign starts
    • Free Media v. Paid Media
    • Post cards to high F/C neighborhoods
    • Post cards while borrowers might be targeted
    • Billboards, TV, Radio
      • Freddie Mac “Don’t Borrow Trouble” is one example
  • 12. Who will pay for it
    • May be limitations on funds available to gov’t agencies
      • Cuy Cty – Filing fee increase and Treasurer’s funds forbidden
    • Lender/Foundation donations
    • County available funds
      • Block grant funds
      • General fund
      • TANF funds
  • 13. General County-run model
    • Create link between County gov’t and counseling agencies
    • Provide information to borrowers about F/C process as well
    • Encourage borrowers to get counseling AND to stay in their homes
    • Use Gov’t influence to lend credibility to efforts
  • 14. General County model (2)
    • Create website
    • Use direct mailings
    • Offer educational programs
    • Utilize resources already available
    • Counseling is cornerstone of program
  • 15. Barriers
    • Foreclosure Rescue Scammers
      • $ to hire “help to contact lender”
        • w/or w/out attorney
      • “We buy houses”
      • Copy cats
    • Still easier to get bad loan, than to fact the music
    • Counseling costs money
    • Culture change takes decades
  • 16. Lucas County
    • Foreclosure Prevention & Intervention Task Force
    • Borrowers informed about various Counseling agencies
    • One phone number also touted
    • Targeted mailings w/Foreclosure Complaints contemplated
  • 17. Lucas County Webpage
    • Located on County Homepage
      • http://.co.lucas.oh.us/Foreclosurehelp/
    • Grid of agencies
    • Foreclosure timeline, Glossary, FAQ’s about F/C process
  • 18. Franklin County
    • Monthly Counseling seminars for newly foreclosed upon
    • Borrowers informed about various Counseling agencies
    • Borrower owns counseling from very start
    • Public/Private Task Force Managing program on ongoing basis
  • 19. Franklin County Webpage
    • Located on Treasurer’s webpage
      • http://www.franklincountyohio.gov/treasurer/foreclosureint/index.html
    • Grid of lender contacts !
    • Foreclosure timeline, Tips, Seminars
  • 20. Summit County
    • New Program
    • Creation of a Foreclosure Prevention Directory
    • Creation of a mailer to go out w/new filings
    • Still meeting w/community leaders and stakeholders
  • 21. Summit County Webpage
    • Located on page for Office of Consumer Affairs
      • http://www.co.summit.oh.us/conaffairs.htm
    • Plan is to have information relating to predatory lending and F/C prevention
  • 22. Cuyahoga County
    • Provide one local phone number for borrower assistance (United Way)
    • Program capitalizes on existing network of experienced counseling agencies
    • Agencies own model
    • County pays agencies for increase in capacity caused by calls to 2-1-1
  • 23. Cuyahoga County Webpage
    • Located on County Homepage
      • http://www.dontborrowtroublecc.org/
    • Foreclosure timeline, FAQ’s, process overview.
    • Borrower questions answered through website
    • Standalone website
  • 24. Fallout
    • Cooperation from other gov’t agencies
    • Increased focus on prosecutorial action
    • Municipalities more willing to participate in solution
    • Money easier to raise
  • 25. Government sponsored programs
    • An overview of considerations when initiating a County-run Foreclosure Prevention program w/various approaches
          • Mark Wiseman – Director, Cuyahoga County Foreclosure Prevention Program
          • 216.443.7461
          • [email_address]