1. Turning Crisis Into Opportunity Yes, We Will! Conference November 9, 2009 Ray Neirinckx RIHRC rneirinckx@doa.ri.gov

2. Knowledge is Power. Resources are available to assist at-risk homeowners. * HAMP (Home Affordable Modification Plan) * Lender-driven support such as Bank of America and HOPE NOW

3. Knowledge is Power HAMP news: www.makinghomeaffordable.govwww.makinghomeaffordable.gov HOPE NOW news: www.hopenow.comwww.hopenow.com Local support the work of advocates, activists, CDCs, CAPs, government.

4. Neighborhood Stabilization How do we protect not only homeowners but the neighborhood in reducing foreclosures? A Responsible Approach to Neighborhood Stabilization http://www.stablecommunities.org/redevelop

5. The Ripples of Foreclosures We know the impact of foreclosures on families in our state: Displacement & homelessness Family finances- credit repair/asset losses Mental & Physical health of adults/children Elder impact on health, housing & income Family Breakup Educational challenges

6. Don’t Forget the Tenants As of May 20, 2009, tenants are protected by the Federal Tenant Protection Act. As of September 2009, tenants in the City of Providence are protected from eviction due to a foreclosure.

7. Yes, We Can Call to Action The State of Rhode Island Should Institute a Moratorium on all Foreclosures Due to the High Rate of Unemployment and the Highest Rate of Foreclosures in New England.

8. Resources www2.urban.org/nnip/foreclosures.html www.stablecommunities.org www.foreclosure-response.org www.dsnews.com

9. Conclusion In the future the question will not be, "Are people credit-worthy", but rather, "Are banks people-worthy?" - Muhammed Yunus (Nobel Prize winner)

10. http://www.sweet-juniper.com/2009/07/feral-houses.html http://www.sweet-juniper.com/2009/07/feral-houses.html & http://www.forgottenprovidence.comhttp://www.forgottenprovidence.com