2008-10-23 / Other News

"Foreclosure Prevention Coalition" Formed By Fillmore In Crisis

In order to help educate and give resources to the community during this time of economical turmoil, sales associates from Fillmore Real Estate's Avenue L branch, spearheaded by Jean Paul Ho, recently volunteered to create a coalition of community leaders to take part in a seminar to address various options.

The coalition includes State Senator John Sampson, City Councilman Dr. Mathieu Eugene, Winchester Key, Law offices of Gail Adams, J.P. Morgan Chase, M&T Bank, New York City Department of Housing Preservation and Development, Neighborhood Housing Service of Flatbush (NHS), C.H.A.N.G.E.R, Law office of William Reinhardt Jr. and attorneys from Common Law NYC and John Reinhardt, CEO of Fillmore R.E. The seminar was hosted in numerous languages, including Creole, and was held on October 5 at the Hebrew Education Society located at 9502 Seaview Avenue.

The "Foreclosure Prevention Seminar," the first of its kind, was "similar to getting a health check," said Ho, "and was strictly a non-profit meeting during which all the volunteers and attorneys rendered their services Pro Bono.

"We are committed to help and to give back to our community," Ho added. " And our main objective and goal is for everyone in our community — mostly zip codes 11236 and 11207 — to keep their home. Unlike other real estate brokers who are just looking to profit from this time of economical crisis by misinforming residents, we will exhaust all our options before we recommend someone put their home on the market!"

The real estate expert said this crisis affects everyone, "even those who are not late on their payments!

"We do not want to see boarded up homes or signs on every block in Canarsie for sale," Ho told the coalition members. "Hopefully our action in giving back to the community will be a precedent on how other real estate firms should react!"

A survey by the Federal Reserve Bank of New York claims that the hardest hit section in the tri state area is 11207 — East New York, with over 3,000 sub-prime mortgages — followed by Canarsie, with over 2,000 sub-prime loans. Jean Paul Ho quoted politicians who recently said, "This is not just a Wall Street problem but a Main Street problem!"

To find out what you can do to stop foreclosure call 1-718-272-8096.

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