Affordable Housing Documents
Faith Action for Community Equity Hawaii (“FACE”)’s community study shows that throughout the month of November 2015, mainland banks drove 97.5% of all the foreclosure notices on the islands. These notices do not give the whole picture of the foreclosure crisis, but it allows us a better understanding of which lenders are driving the foreclosures that our families are facing. Families facing foreclosure rely on people that they do not know, people that they can never talk to in person, and people who do not have a vested interest in the community here.
In the study, FACE makes five (5) recommendations. Of those five (5), the biggest recommendation is that families at risk of foreclosure in their primary residence who are turned down for a loan modification, deserve to see the reason for the denial in writing from their bank, and if they feel the denial is incorrect, that they can request that their lender provide them with a live person for a face-to-face binding mediation in the State of Hawaii. The states of Maryland, Nevada, and Florida all provide their people with this right and the citizens of Hawaii also deserve this right.