This
week, we present an interview one of our clients, Rick Harper. Rick is Senior Vice
President of Program Services with Consumer Credit Counseling Service of SanFrancisco. He’s worked for CCCS
since 1994, and holds his J.D. and real estate brokerage license from the
California Department of Real Estate.
We consider him a housing expert, and someone who understands first hand
the impact of the housing crisis on struggling homeowners. We hope you enjoy his insights.
Some studies are showing the housing
crisis is nearing an end, while others say it is still going strong. What’s your take on things?
Definitely we
have seen less demand for foreclosure and loss mitigation counseling this year
than in the previous four years. With
that said, we anticipate 2013 to be another difficult year for over a million
families who are still trying to recover from this great recession and who run
the risk of losing their homes to foreclosure.
What’s the best and most rewarding part
of the counseling process for you?
Recognizing and
appreciating the successes that my staff has each day working with families who
are struggling to save their homes.
Our foreclosure prevention counselors have the hardest job within our
agency. Every day they must face
family after family in crisis.
They are the real heroes and I take a great deal of pride in observing
their genuine kindness towards the families who come to them for
assistance.
What advice would you give someone who is
struggling to pay their mortgage loans?
Seek help as
early as you can in the process and don’t be dismayed if your initial attempts
are unsuccessful. Contact yourlocal HUD approved housing counseling agency and/or call the 888 995HOPE hot
line. The process itself
eliminates many families that might otherwise qualify for assistance. It is heavily “paper laden” and as
unreasonable as it might seem to a family in crisis, the collection and
submission of this paperwork is absolutely essential. Without a complete package of documentation, no decision
for help will be made. Every
document requested, no matter how superfluous, must be provided. Families should seek out HUD
approved counseling agencies for assistance with the documentation and the
process in general.
How do you think local resources help
struggling borrowers? Do you have
any anecdotes?
Families in
crisis often turn to those they know and trust as a first response. Local community resources can assist
clients in crisis by ensuring that there is a safety net available. Some organizations
can help transitioning families find suitable and safe rental housing, while
other resources that help reduce the cost of things like utilities,
prescription drugs, and good are great and have tangible value for many
homeowners.
With changes made during the housing
crisis, do you think struggling borrowers have more options available to them
than before? Or is the climate for
a struggling borrower unchanged?
There have been
across-the-board improvements over the initial government programs designed to
assist these families. The HAMP
and HARP programs have been modified to allow a greater number of families to
participate. Enhanced financial
incentives to servicers with such incentives tied to specific timelines and
outcomes, have also given rise to greater retention and non-retention options
for homeowners. There has been an
attempt at the standardization of the loan modification and short sale
processes and this also has had a very positive impact. In summary,
there are more options today for the foreclosure counselor and his or her
clients, than there were four years ago.
Who is your favorite James Bond?
This is a no
brainer – Sean Connery – the original.
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