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Housing and Urban Development

Getting Assistance from HUD Counselors

Feb 8th, 2011
by John Mlnarik.
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As a bankruptcy lawyer I talk to homeowners every day who are trying to obtain a loan modification. So many of them have been at it for 18 months or more and are ready to throw in the towel.

The combination of filing for Ch 13 and working with a HUD counselor seems to be getting the best results. We send our clients to Surepath Financial for help dealing with their lender, but provide a list of others in the area as well.
When choosing someone to help with a loan modification it is important to go to a counselor approved by the U.S. Department of Housing and Urban Development for FREE assistance. You should NEVER be asked to pay for counseling or a loan modification.
Here are a number of HUD-Approved counseling services in and around Santa Clara County:
SUREPATH FINANCIAL SOLUTIONS

1190 South Bascom Avenue, Ste 208
San Jose, California 95128

PHONE: 877-615-7873
E-MAIL: clientservices@surepath.org
WEBSITE: www.surepath.org

- Counselors speak English and Spanish

AFFORDABLE HOUSING CENTERS OF AMERICA

395 E. Taylor St. Suite 230
San Jose, California 95112

PHONE: 408-297-3053
E-MAIL: jgaleano@ahcoa.org
WEBSITE: www.ahcoa.org

- Counselors speak English and Spanish

PROJECT SENTINEL

298 S. Sunnyvale Avenue, Suite 209
Sunnyvale, California 94086

PHONE: 408-720-9888 x 16
TOLL FREE: 888-331-3332
E-MAIL: mediate4us@housing.org
WEBSITE: www.housing.org

- Counselors speak English, Spanish, Chinese Mandarin, Hindi

PROJECT SENTINEL

7800 Arroyo Circle, Bldg A
Gilroy, California 95020

PHONE: 408-842-7740
TOLL FREE: 888-331-3332
E-MAIL: gilroy@housing.org
WEBSITE: www.housing.org

- Counselors speak English and Spanish
NEIGHBORHOOD HOUSING SERVICES SILICON VALLEY

1156 North Fourth Street
San Jose, California 95112

PHONE: 408-279-2600
WEBSITE: www.nhssv.org

- Counselors speak English, Spanish, Hmong and Vietnamese

NORTHERN CALIFORNIA URBAN DEVELOPMENT

Keisha Woods, Housing Program Manager
1836 Bay Road, Suite B
East Palo Alto, California 94303

PHONE: 650-328-1890×110
E-MAIL: keisha@norcaludc.org
WEBSITE: www.norcaludc.org

- Counselors speak English and Spanish
AVENIDAS

450 Bryant St
Palo Alto, California 94301

PHONE: 650-289-5433
E-MAIL: hlandsman@avenidas.org
WEBSITE: www.avenidas.org

– English Only

NATIONAL ASIAN AMERICAN COALITION

1535 Landess Avenue, Suite 146
Milpitas, California 95035

PHONE: 408-343-7701

- English Only

*** If you are outside Santa Clara County, the Department of Housing and Urban Development has a list of approved counseling agencies by State. You can access the list here.
Once you’ve set out on the path of seeking a mortgage modification consider the following tips.
• Do not let anyone pressure you into signing papers right away. Take your time to decide, and get more than one opinion on your situation.
• Do not sign your deed over to anyone if you are applying for a mortgage modification
• NEVER make a mortgage payment to anyone other than your mortgage servicer without its express approval

Refinancing Limits Raised: Happy 4th of July!

Jul 3rd, 2009
by John Mlnarik.
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Remember when you were a kid and the simplest things intrigued you? When you parroted the reaction of those around you because you were learning how to react to something new, something you had never seen or experienced before.

That is how a lot of American’s must have felt when the most recent expansion to the Making Home Affordable Plan was announced on July 1st.  For an explanation of the Home Affordable Refinance Program otherwise known as HARP see my previous post.

Now borrowers, who have loans backed by Fannie Mae and Freddie Mac, can refinance up to 125%  of their home’s value.  Sure this will allow more American’s to qualify for a refinance under the plan, but if you are one of those who now qualify you’ve got to be asking yourself, “Do I really want to do this?”

Well do you? Do you really want to refinance your house when the loan to value ratio is over 105%?  That is what the government would like you to do, and now those who are between 106% and 125% loan to value can do it too!

Forgive me if I feel like a kid again.  Like a kid who just saw fireworks for the first time and can’t figure out if it is great or just, as my grandfather used to tell me, “Like burning money”.

Don’t get me wrong, I like fireworks and fanfare just as much as every other red blooded American.  But who among us enjoys being told something will help when in reality doing that very thing is not in our best interest?  I don’t know about you, but I like it even less when I find out later that those who it is really helping are those among us need help the very least.

So, light your fireworks this 4th of July and burn a little money to celebrat our independence.  But before you exercise your freedom to light the big fat stick of dynamite the government just put in your hands, think about the first time you held a firecrecker too long and how your fingers felt.  Oh and don’t forget to multiply that feeling by 125.