SFHDC News
For Immediate Release
May 15 2009 | RSS
Affordable Housing Week Kick-Off Event
FOR IMMEDIATE RELEASE CONTACT: Valerie Wiggins
May 8, 2009 415-822-1022 or 510-821-1451
Foreclosures increase by 723% in San Francisco between 2006 and 2008
Affordable Housing Week and Green Fair Celebration Helps Resolve Economic Issues in Communities Most Affected by the Recession
San Francisco, CA – San Francisco Housing Development Corporation (SFHDC) a community non-profit agency kicks off San Francisco’s three-day Affordable Housing & Green Fair Celebration on Friday, May 15, 2009 at Flora Grubb Gardens at 1634 Jerrold Avenue, San Francisco. On Saturday and Sunday, May 16 and 17, 2009, the celebration will be held free to the public at the Joseph Lee Recreation Center, 1395 Mendell Street in San Francisco. The event is endorsed by respected national and local officials, such as Speaker of the House Nancy Pelosi, US Senators Barbara Boxer and Dianne Feinstein, State Senator Mark Leno, Mayor Gavin Newsom, District Attorney Kamala Harris, Supervisors Sophie Maxwell, Ross Mirkarimi, and Chris Daley, and Fred Blackwell, Director of the San Francisco Redevelopment Agency. Phil Ting, Assessor Recorder, and Jose Cinceros, San Francisco Treasurer, will join SFHDC in kicking-off the celebration during a press conference on Friday, May 15, 2009. Both officials have a true understanding of the effects the economy and troubled housing market is having on low income communities in San Francisco.
The event offers existing and prospective homeowners free expert advice and affordable green and housing resources to help them build and maintain assets. The public will have an opportunity to attend workshops, talk with exhibitors, and listen to expert speakers who will cover topics such as foreclosure prevention, home-buying, credit negotiation, and affordable homes. A Green Fair is planned for Sunday, May 17th to help people gain access to jobs, training programs, and sustainable housing resources available in today’s multi-billion dollar green industry.
SFHDC’s Affordable Housing Week Celebration is a community event which will address the national foreclosure crisis which is seriously impacting the Southeast Sector of San Francisco. According to the City’s Assessor Recorder’s Office, the number of foreclosures has increased by 723% from 81 to 667, between 2006 and 2008; and, Notices of Default have increased from 817 in 2006 to 1,804 in 2008. Many of these foreclosed homes are disproportionately high in low income, minority neighborhoods, as are environmental toxins that affect the health and well-being of the families living there.
As a member of San Francisco’s Fair Lending Working Group, Ed Donaldson, SFHDC’s Housing Counseling Director, is well aware that minority homebuyers are preyed upon by lenders, who sell them highest cost and riskiest mortgage loans on the market. This working group also consists of representatives of other community organizations, foundations, financial institutions and city officials, and is led by District 10 Supervisor Sophie Maxwell, Assessor Recorder Phil Ting and Treasurer Jose Cisneros. The group uncovered evidences that adjustable rate loans mostly originated in the southeast sector of San Francisco, an area where residents are experiencing 50% unemployment and earning 15% less income.
SFHDC’s community event will help those families in San Francisco most impacted by the faltering housing market and troubled economy. SFHDC is working hard to prevent at-risk homeowners from losing their homes, and to qualify future homebuyers for affordable housing opportunities as well as nearly $150,000 in down-payment assistance. Our foreclosure intervention specialist, Zackery Mack Westrom provides free counseling advice to at-risk homeowners nearing foreclosure. With a successful loan modification rate parallel to the best in the industry, Zack is oftentimes still disheartened by the growing number of troubled homeowners in underserved communities. Zack states, “I am thrilled to offer a workshop to help homeowners gain a true understanding of the foreclosure process, and offer realistic options to help families stay in their homes.”
During the weekend event, SFHDC will also offers solutions and resources to help low and moderate income families stabilize their finances. For over 20 years, SFHDC has been committed to preventing the displacement of minorities and low income families from San Francisco. Today, the organization continues offering free services despite decreasing contributions from private and public donors. Regina Davis, President and CEO of SFHDC, ambitiously states, “SFHDC’s intended impact is to strengthen underserved, minority communities by helping families build assets to achieve financial stability through homeownership and community economic development initiatives. We hope our celebration attracts hundreds of renters seeking a better financial future for themselves, their families, and their communities.”
On Friday, May 15, 2009, corporate sponsors, city and community leaders will gather at Flora Grubb Gardens in Bayview Hunters Point to kick-off San Francisco’s Affordable Housing Week and Green Fair Celebration, themed “Building Assets to Achieve Financial Stability” sponsored by Bank of America and Citibank. For more information about San Francisco’s Affordable Housing Week and Green Fair Celebration go to SFHDC’s website at http://www.sfhdc.org and register for free admission.
San Francisco Housing Development Corporation
2009 Affordable Housing Week & Green Fair Celebration
PRESS CONFERENCE
Date and Time: Friday, May 15, 2009, 9 am to 10 am
Location: Flora Grubb Gardens
1634 Jerrold Avenue
San Francisco, CA 94124
Speakers:
Regina Davis, President/CEO, San Francisco Housing Development Corporation,
Phil Ting, Assessor Recorder, City and County of San Francisco
Jose Cisneros, Treasurer, City and County of San Francisco
Mark Leno, State Senator, City and County of San Francisco
Nicole Rivera, Field Representative, Speaker of the House Nancy Pelosi
Zackery Mack Westrom, Foreclosure Intervention Specialist, SFHDC
Citibank Representative
Subject Reference: Links to Saving the Southeast and Main Story. San Francisco Bay Guardian Online, Sara Phelan, .(JavaScript must be enabled to view this email address), Wednesday, May 13, 2009,
Please contact Valerie Wiggins, SFHDC, at 415-822-1022, ext. 122 or 510-821-1451 to confirm media participation.
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