Emergency
Town Hall Meeting: Operation Save Our Homes
in
the Greater Sacramento Valley Region
Date:
Tuesday, September 18, 2007
Time:
6 pm to 8 pm
Location:
San Panell Meadowview Community Center
Conference Room A
2450 Meadowview Road - South Sacramento
(at 24th and Meadowview)
Save
this date and time on your calendar and make it a point to be
there to voice your opinions, suggestions, any solutions that you
might have and to be a witness for the cause of action.
This
economic crisis effects each and everyone of us in our livelihood!
I
am here to inform you about possible solutions to saving your home if
you are in a situation of where your adjustable mortgage loan will be
increasing by hundreds of dollars (anywhere from $300 to $800 per
month) in the near future. Some of you or you may know of others
who are undergoing this crisis. I, Pleshette Robertson, am a
homeowner in South Sacramento and my adjustable mortgage loan will
increase in January 2008 by $500. There are solutions and WE
MUST work together to share this information and take action to follow
the instructions (see "Letter
of Action - Operation Save MY Home" attached) regarding
saving our homes. We can no longer just sit back and just wait
to see what will happen in the U.S. economy as we are hoping that are
government officials and President Bush are seeking to come up with
solutions to help us. By that time over half of us will have
lost our homes to foreclosures.
Within
the last 10-15 years so many African Americans (those of us who jumped
on the opportunity) were afforded the wonderful opportunity of the
"American Dream" - of homeownership in California.
Within the first couple of years of owning our homes, hundreds to
thousands were sucked in, bombarded, and aggressively approached with
the option of doing refinances on our home. We fell into this
grave trap of adjustable mortgages. I, Pleshette, should have
listened to my grandmother who said to never "BORROW on your
home" and steadily "pay your mortgage on time no matter
what". If only I had listened to my grandmother who still
lives in her home in East Palo Alto (of over 30 years).
Nevertheless,
I should not along with hundreds of others be forced into a situation
that was encouraged by predatory subprime lenders whereby we fell into
an adjustable loan situation in which we were not fully aware of the
horrible ramifications and consequences that our families would be
confronted with.
I
am insisting that you refer to the following links of information
addressing this issue as well as READ and PRINT the attached
letter.
Bush
Administration to Help Nearly One-Quarter of a Million Homeowners
Refinance, Keep Their Homes
FHA
to implement new "FHASecure" refinancing product
http://www.fha.gov/press/2007-08-31release.cfm
Home Prices May Fall Further
http://moneynews.newsmax.com/money/archives/articles/2007/9/6/104024.cfm?s=al&promo_code=39A7-1
Freddie
Mac, Industry Members and Consumer Representatives Support Senator
Chris Dodd’s New Principles to Preserve Homeownership for Subprime
Borrowers
http://dodd.senate.gov/index.php?q=node/3863/print
If
you or you know of something undergoing an adjustable mortgage, please
TAKE ACTION to edit the letter attached (according to your basic
information) -
Letter
of Action - Operation Save MY Home
and send this letter to your lender as well as the cc:'s
mentioned in the letter. Once you send the letter, you should
also fax it, and call your lender (within a week and every week
thereafter) to speak with someone who holds highest title to ask them
about addressing the issues of your circumstances and the letter you
sent. Your letter along with the cc's must be sent as
certified mail.
PLEASE
forward this e-mail and information to someone who NEEDS TO KNOW ABOUT
HOW TO SAVE THEIR HOME. Here's my motto: "For
every African American who currently owns a home, I want us to REMAIN
HOMEOWNERS!" These
subprime lenders must work with us to keep our monthly mortgages at
the same rate and not astronomically increase our mortgages by $300 to
$800.