Cooperative governance: managing information, trust, and best outcomes</h1> <article> <h1>Cooperative governance: managing information, trust, and best outcomes</h1> <p>admin — Sat, 15 Oct 2011 18:32:00 GMT</p> <p>The 1451 Park Road Cooperative (Coop) in Columbia Heights in Washington DC exemplifies the significance of education, collaboration, and communication to achieve equitable social and economic results. The Cooperative was originally (late 90's) created as a "limited equity cooperative" to allow low income tenants of the building (mostly Latinos with very limited education and resources to navigate the complex legal and financial challenges) to continue to reside in a rapidly gentrifying area (close to Metro, restaurants, urban ameneties) at a below market monthy cost. One of the immediate challenges is to utilize 19 units that has been left vacant since the late 90's, representing a significant loss of income to the Coop, the rationale being that the Coop's intended beneficiaries (low income Latinos) would be best served with a luxury condo conversion. HEY-OYE is to rallying the Latino Coop Members to work with each so that their need to remain in a desirable location paying below market costs is maintained. HEY-OYE has been conducting individual and collective education meetings, and actively engaging the Management/Board to honor their fiduciary duties to the Latino Members.</p><div style="clear:both;"></div> </article> <article> <h1>Cultural Shock: Communication callanges faced by Latino immigrants, "Social Media" solutions.</h1> <p>admin — Thu, 24 Feb 2011 19:03:00 GMT</p> <p> As the never ending economic crisis keeps unfolding, HEY-OYE staff "in the front lines" tell repeated stories of Latinos not understanding the "system" (legal, financial). Underserved Latinos place value in "customary" communications (network of family, friends, bank representatives, agents, radio, TV, and now the Internet from the younger generation) while disregarding important legal documents (foreclosure notices, immigration notices). Yesterday a "client" of HEY-OYE called that he was in shock as his tearful young son was telling him that agents (sheriff office) were placing all their personal belongings in the street. Repeated requests by HEY-OYE staff to anticipate any legal documents reaching him by mail (notice of foreclosure, all other related documets of pending court documents) were ignored. Much more insidious that the language barriers are the "cultural" challanges that we are witnessing in Latinos (even those who have been here a generation) in understanding "the rules of the game" (bank remediation and other Federal and Local programs). As more of these Latino family nucleus rely on the young adults, even kids, to help them understand the language, the messages that are being posted in Twitter, Facebook, YouTube, and similar Social Media sites are becoming more relavant for assisting these individuals to understand their legal, financial and regulatory framework of rights and obligations. HEY-OYE will be soon launching in a "social media" campaign to reach out with its network of clients, supporters, and extended contacts to targeted Latinos in need of better understanding of the system and how to navigate all of the available resources (most of which are easily available in the WEB).</p><div style="clear:both;"></div> </article> <article> <h1>Foreclosure melt down: how you can navigate the confussion (challange to improper documentation/procedures by lenders)</h1> <p>admin — Sun, 17 Oct 2010 12:08:00 GMT</p> <p>HEY-OYE staff is attempting to explain to individuals it serves (mostly Latino immigrants in the Columbia Heights neighboorhood of Washington DC) what are their options if they are facing a foreclosure action. There is a lot of "misinformation" (some of it prompted by self-servicing mortgage "agents") that many times stands in the way of facilitating a sensible outcome for the parties (borrower, lender, community).</p> <p>Many families are anquishing as to continue to pay their mortgage on their seriously "underwater" (negative value) home. All the publicity as to courts handling foreclosure cases (challenging the processes used by the lenders), investigations by goverment agencies, and private lawsuits, is adding to the level of confussion, in particular for low income individuals lacking the educaton or experience in these rather sophistated legal/financial issues).</p> <p>Attempts at meaningful Loan Modifications (reducing the principal of the loan to correspond to the value of the home) is not an option (lenders are not interested), a viable "short sale" (lender to accept a reduction of the principal to match the market value of the house) is also not in the cards for these home owners. The process of hiring legal representation to challenge the loan documents is even less of an option. This leaves many families simply refusing to pay their mortgage and ridying out the "free rent term" until they are evicted.</p> <p>As this drama between investors in these mortgages, loan servicing agents, regulatory bodies, and a number of other "players" (from the Federal Reserve at the macro level, to local municipalities and agencies) plays itself out, HEY-OYE's mission is to offer reliable assistance and information to the community members most vulnerable to abuses (uneducated, unrepresented, poor families with scant resources). The negative impact of a poor credit score for failure to pay the mortgage, might be outweigted with the ability to save over a perioid of many months (as long as 2 years in some cases) the mortgage payment (or rent equivelant). There could even be members of the "extended family" that might be able to qualify for a new mortgage (using savings from the absence of rent/mortgage for the defaulting period), and purchase a house an attractive current price, with the added bonus of historically low interest rates. HEY-OYE is not advocating this course of action, it is simply in good faith trying to explain to the affected families options that are within their reach, and their potential outcomes. When you are serving individuals at this level of the socio economic food chair, "moral hazzard" concerns to the rest of the economy are rather hard to advance.</p><div style="clear:both;"></div> </article> <article> <h1>Church protects young Salvadorean from gangs</h1> <p>admin — Fri, 11 Jun 2010 14:49:00 GMT</p> <p> HEY-OYE recently sponsored a young Salvadorean who avoided being "recruited" by the gang (Mara) in his home town. According to JMM (24), active service in the local parish allowed him to avoid further harrassment by gang recruiters. JM's case is one of many similar stories of how modern day Church activism offeres much more than spiritual comfort to communities at risk (both in Latin America and the US). JMM is now active in his Northern Virginia parish helping even younger immigrants to live moraly productive lives. HEY-OYE facilitated JMM in obtaining construction service employment, while providing him with a laptop and mentoring from HEY-OYE's Technology VP Diego Vazquez (to learn programing and related social media skills). The story of "placing carps in a larger feeding pond" came to mind, young minds placed in the proper environment grow and can fullfil their full potential. Diego (33) is another HEY-OYE success story, he has a master's in computer science, and is currently completing his MBA in finance in Georgetown University.</p><div style="clear:both;"></div> </article> <article> <h1>The new Alba: a response to all those who try to manipulate us</h1> <p>admin — Tue, 25 Aug 2009 21:17:00 GMT</p> <p>"The Roman state survived for twelve hundred years (western), another one thousand years in the east..because they had little sense of racial exclusiveness. They gave away Roman citizenship to deserving foreigners - by deserving, they would mean those who had something to offer them in return, if only grateful collaboration...it was even possible for slaves to make the leap from being non-persons to being citizens, simply by a formal ceremony before a magistrate, or by provision in their owner's wills" (Goodman, Rome and Jerusalem, London 2006)</p> <p>HEY-OYE recently helped Alba Gonzalez with her legal (her file for divorce), financial, tax, health and related "lifestyle" issues. Alba lives in the Columbia Heights neighborhood (site of 68 DC riots now a fun conglomeration of hipsters who can be African-American, Latinos, Vietnamese) and her "story" is what HEY-OYE is all about. Husband incurred tax liabilities (Alba having, unawares, signed joint-returns also became also responsible); husband also defaulted in a mortgage (after foreclosure Alba was being sued by the Lender for a deficiency judgement), her credit was shot as a result. HEY-OYE negotiated with the IRS "Inocent Spouse Relief" for Alba, and with the Lender for removal of her name from the default collection proceedings, and a reinstatement of her credit. HEY-OYE has also counseled Alba in navigating the health system, and is co-partnering with her an "Alba's Kitchen" (health food events and nutrition clases) that hopefully with expand so that she can quit her $9 per hr waitress job at a fast food joint and be a "social entreprener". HEY-OYE considers her story worthy of a response to the ALBA (Alianza LatinoAmericana Boliviana) initiative of the likes of Chaves in Venezuela. She owns her house (was able to kick husband out of the place and title), and "thank you very much" she is well on her way to becoming an self-reliant individual (machista and dictators of the world beware!). HEY-OYE counsels individuals to achieve independence (resisting manipulative ads for health and consumer products, avoiding predatory lending, avoiding misleading counseling for mortgage modifications, foreclosures, immigration, family law, and related issues) and to take control of their own lives.</p><div style="clear:both;"></div> </article> <article> <h1>La otra Alba: una respuesta a quienes pretenden manipularnos.</h1> <p>admin — Tue, 25 Aug 2009 13:29:00 GMT</p> <p>Hey-Oye, que desde el 2004 se ha convertido en el portal a traves del cual los hispanos residentes en Columbia Heights, D.C., interactuan y se enteran de la informacion que necesitan para vivir mejor y para conocer mejor y ejercer a plenitud sus derechos, tiene una experiencia mas que relatar. Se trata del caso de Alba, una ciudadana americana de origen salvadoreno, que a fuerza de mucho trabajo y sacrificio, ha conseguido un buen pasar en Columbia Heights -en donde reside desde 1993.</p> <p>Su historia es un ejemplo vivo de las multiples oportunidades que brinda este pais para quienes las buscan y las saben aprovechar, pero tambien de las muchas visicitudes que viven muchos inmigrantes por su desconocimiento de las reglas del juego y su desinformacion en general. Hey-Oye ha ayudado a Alba a sobreponerse a dificultades en cuestiones relacionadas con el Derecho, el Fisco, la Salud, y el Trabajo<strong><em>. </em></strong></p> <p>Por exceso de confianza y desconocimento de sus obligaciones y derechos, Alba estuvo a punto de ser penalizada por el IRS y de perder su bien mas preciado, su casa, frente a un acreedor hipotecario. Hey-Oye la rescato de ambas situaciones, y tambien del consumo de medicamentos daninos (que muchos de nuestros conciudadanos menos informados consumen bajo la presion e influencia de quienes buscan manipularlos). Hey-Oye esta ayudando a Alba a mejorar su situacion laboral, que es hoy la de una asalariada que gana $9.00 por hora, para que de los primeros pasos como empresaria a traves de su proyecto, "Alba's Kitchen", eonfocado a la preparacion de comidas sanas con sabor latino.</p> <p>En momentos en que muchos -en nuestro propio "beltway", y en nuestro hemisferio en general- parecen hipnotizados y obsesos (gracias a una manipulacion muy parecida a la que ha padecido Alba, porque tambien se nutre del miedo) con el significado y la importancia de otra ALBA (la llamada Alternativa Bolivariana), parece oportuno recalcar el caso de nuestra amiga en Columbia Heights..<strong><em> </em></strong></p><div style="clear:both;"></div> </article> <article> <h1>Mortgage renegotiations: HEY-OYE can help, in particular, those in Keystone Pointe St Cloud, Florida</h1> <p>admin — Sun, 23 Nov 2008 22:50:00 GMT</p> <p> HEY-OYE has experienced legal, mortgage, and real estate staff to guide you in obtaining better terms on your exisiting mortgage. There are a number of FDIC, HUD, FHA and private mortgage lender rules that can provide a quick assessment if you qualify: 1) you do not need to be in default of your current mortgage to qualify, but have to otherwise demonstrate an "emergency" (health, job loss, divorce) that makes your income/debt ratio over 38-40%; 2) you have to demonstrate an ability to service the new loan terms (all other debts are considered) and credit score has to meet certain criterias. There are special programs for those 3 or more months in default of their payments with the HUD "Hope Now" initiative, but it requieres your giving up part of your next five year house price increase. HEY-OYE is particularly interested in assisting homeowners in Keystone Pointe, St Cloud, Florida who are owner-occupants. We have links to active members of the HOA, St Cloud mortgage originator, and real estate and legal team.</p> <p> </p><div style="clear:both;"></div> </article> <article> <h1>Facing Foreclosure: Cutting the Homeowner's Losses</h1> <p>admin — Fri, 11 Jul 2008 20:21:00 GMT</p> <p><br />HEY-OYE staff is giving good advice to homeowners with a "negative equity" (mortgage debt much greater than <br />the current market value of their home). Because governments or others are unlikely to rescue homeowners, <br />HEY-OYE staff recommends that homeowners take action. First, determine the home's current market value by:<br />1) finding tax appraisal values on the County or Municipal web site; <br />2) checking <a href="http://www.zilow.com/">http://www.zilow.com/</a> or similar free web sites; <br />and 3) finding prices of "home comparables" on Realtor Mulitiple Listing Services by linking with real estate brokers. </p> <p>If these current numbers are 25% below the amount due on the mortgage loan, the homeowner should <br />immediately conduct "good faith" negotiations with the Lender. If it appears <br />unlikely that the Lender, or the Servicing Agent on the mortgage, is unable or unwilling <br />to substantially reduce the principal amount due on the loan to correspond with the current <br />value of the house, the homeowner should contemplate abandoning the home. This <br />is a hard decision since it will damage the credit of the homeowner, on top of <br />the emotional trauma of leaving the home and losing the downpayment and all other related closing <br />costs and expenses. <br /> <br />HEY-OYE staff advocates practical solutions. If the current value of the home is 25% below the loan amount, <br />it is wise to cut the homeowner's losses by not prolonging the situation. Continuing payments on the mortgage <br />will not aliviate the outcome. </p> <p>A good remedy is to lease a comparable home and attempt to negotiate a option to purchase. HEY-OYE staff can quide the homeowner with all these steps, including minimizing the impact of their credit rating (negotiations with Lender involving the "deficiency judgement" and/or deed in lieu of foreclosure), and otherwise counsel with the lease/option negotiations and subsequent credit remediation steps. While the current Homeowners Relief Legislation pending in Congress could offer Lenders an avenue to re-negotiate some of these "negative equity" mortgages, HEY-OYE staff cautions homeowners to be prepared to "walk away", especially if it appears unlikely that the Lender is willing to take such a large reduction on the principal amount of the loan to match the current value of the home. <br /> <br /> </p><div style="clear:both;"></div> </article> <article> <h1>Foreclosure options: re-negotiate mortgage terms or leave and lease/option buy new home</h1> <p>admin — Mon, 07 Jul 2008 15:17:00 GMT</p> <p> HEY-OYE staff has been advising homeowners to review carefully the alternatives to remedy their home having a "negative equity" (mortgage debt much greater than the current market value of their home). HEY-OYE staff have been advising homeowners to determine their home's current market value by: 1) going to their County or Municipal web site (tax appraisal or tax assesors files posted on line); 2) <a href="http://www.zilow.com">www.zilow.com</a> or similar free web sites; and 3) Realtor Mulitiple Listing Services "home comparables" (available by linking with real estate brokers.) If the amount due on the mortgage loan is far in excess of the home's current market value (loan to value of over 25%), the homeowner should immediately conduct "good faith" negotiations with the Lender. If it appears unlikely that the Lender, or the Servicing Agent on the mortgage (not the ultimate owner of the loan) is unable or unwilling to substantially reduce the principal amount due on the loan (to correspond with the current fair market value of the house), the homeowner should contemplate abandoning the home. This is a hard decision since it will damage the credit of the homeowner, on top of the emotional trauma of leaving the home and losing: the downpayment; improvements to the home; and all other related closing costs and expenses. At HEY-OYE we are more about practical solutions than "hand holding". If the value of the home is 75% or less of the loan amount, why prolong the pain, we recommend to homeowners, cut your losses (continuing payments on the mortgage will not aliviate the outcome); lease a comparable home, and attempt to negotiate a option to purchase. HEY-OYE staff can quide the homeowner with all these steps, including minimizing the impact of their credit rating (negotiations with Lender involving the "deficiency judgement" and/or deed in lieu of foreclosure), and otherwise counsel with the lease/option negotiations and subsequent credit remediation steps. While the current Homeowners Relief Legislation in Congress could offer Lender's an avenue to re-negotiate some of these "under-water" mortgages, we caution homeowners to be prepared to "walk away", specially if it appears unlikely that the Lender is willing to take such a large reduction on the principal amount of the loan to match the current value of the home. </p><div style="clear:both;"></div> </article> <article> <h1>Foreclosure mess: what can be done?</h1> <p>admin — Thu, 01 May 2008 14:50:00 GMT</p> <p> Now that several mortgage lenders are facing with high levels of "nonperforming loans" (immigrant families are particularly vulnerable having entered late in the housing bubble cycle) Federal and State Regulators and Congress are reviewing remedial actions.</p> <p>For its part, HEY/OYE wants to intermediate between Lenders and Latino immigrant families in the DC Metro Area "workout" plans, so that both parties can find a suitable outcome. Specifically, HEY/OYE staff is prepared to undergo the following: 1) assist Latino family in renegotiating with the Lender the terms of the loan to avoid foreclosure; 2) offer Lender plan of repayment that might include additional collateral or other forms of inducements to induce Lender to accommodate the interest and payment schedule to needs of Latino family; 3) in general offer financial, legal and real estate counseling to the Latino family to resolve foreclosure of their home by using the above and related strategies.</p> <p>HEY/OYE staff have in depth knowledge of the issues and opportunities for practical "hands on" solutions between borrowers (Latino immigrant families) and their Lenders. HEY/OYE is prepared to take a very "proactive" role in these negotiations and finding workable solutions (new loan terms, equity participation agreements, tailored financial restructuring) to prevent lost of home (immigrant family), while at the same time addressing Lenders' objectives.</p> <p>HEY/OYE will be discussing the above with Lenders that have been exposed to high incidence of defaulting loans from Latino families in the DC Metropolitan area. Outreach programs to Latino communities has also been launched.</p> <p>For more information email: <a href="mailto:info@hey.bz">info@hey-oye.com</a> or call (202) 342-6369.</p><div style="clear:both;"></div> </article> <article> <h1>Immigrant Financing</h1> <p>admin — Thu, 01 May 2008 11:43:00 GMT</p> <p> HEY-OYE will refer clients to appropriate financial institutions, investors, to facilitate funding of worthwhile projects.<br />Building contractors, software developers, small business owners and entrepreneurs have already been served with introductions and "matching" services.</p><div style="clear:both;"></div> </article> <article> <h1>Worksite enforcement/legalization of undocumented workers</h1> <p>admin — Thu, 01 May 2008 11:30:00 GMT</p> <p>Under existing legistlation (from the 1986 Immigration Reform Bill) US Employers have to fill out Form I-9 for employees and verify certain identity documents. Current Immigration Reform legislation would mandate (now only "voluntary") the verification of the indenticication documents against a government data base (REAL ID), and stiff penalties would be applied in the event the Employer violates these provisions ($5,000 for a first offense $75,000 repeat offenses, per employee).</p> <p>HEY-OYE is developing IT solutions that would automate the record keeping and interface the software with exisitng USCIS and other government data bases. These tools would allow Employers to comply with exisitng verification programs, and prepare the firm to enter the potentially new mandatory regulatory environment of Electronic Employment Verification (EEV).</p> <p>HEY-OYE is also developing software and interface tools so that Employers to enable Employers to assist undocumented workers with legalization provisions under the draft provisions of the current immigration bill. </p><div style="clear:both;"></div> </article> <article> <h1>Turning undocumented Latino Students in US into entrepreneurs</h1> <p>admin — Thu, 01 May 2008 11:30:00 GMT</p> <p>Current immigration reform provisions ("dream act') might unlock the potential for undocumented Latino students to become candidates for permanent residency (visit our Blog Post of 5/23/07). Without this type of relief these students will continue without job opportunities that match their acquired knowledge, a significant potential loss to the individual student and the community.</p> <p>HEY-OYE is exploring avenues to act on behalf of these students as "angel investor", and/or resource clearinghouse, to match students with entrepreneurial opportunities. Possible scenarios would allow firms (US or international) interested in of outsourcing tasks to contract a "corporate entity" (LLC formed to contract services or a sole proprietorship Doing Business As an incorporated entity). The US based student would use IT solutions to deliver the work product taking advance of his/her access to university/community college research facilities, and the obvious advantage of being physically present to undertake grass root marketing efforts. A firm wishing to penetrate the rapidly expanding Latino market in the US would enjoy the benefit of "plugged in" young student, eager to compliment his academic work with "internship" in the product or service the "client firm" is launching.</p><div style="clear:both;"></div> </article> <article> <h1>Social Vehicles to Cluster Services to Underserved Latinos</h1> <p>admin — Thu, 01 May 2008 11:25:00 GMT</p> <p><span style="font-size:small;font-family:Times New Roman;">In the mist of the most sophisticated financial market place (US urban centers) many Latino immigrants still operate on a “cash” basis (unbanked, and lacking access to credit). The costs to the immigrants (transaction fees, subject to muggings, exclusion from mortgages, small business loans) are very apparent. The higher cost to society at large in lost potential (Latinos operating in the margins) is evidenced in deteriorating communities on both sides of the US/Latin America divide.</span> </p> <div> <p><span style="font-size:small;font-family:Times New Roman;">HEY-OYE has been operating a “storefront” in the Columbia Heights Latino area of Washington, DC to counsel “marginalized” immigrants on financial, regulatory, housing and related concerns. Our findings of attitudes of these Latino immigrants in our “barrio” are as follows:</span></p> <ol> <li><span style="font-size:small;font-family:Times New Roman;">Latinos are leery of “institutions”: they trust certain family members, friends, “patron” (reliable employer), colleagues, “compadres” (individuals that are tied to the family by marriage or represent other close ties), and certain church and community organizations that have served them in the past.</span> </li> <li><span style="font-size:small;font-family:Times New Roman;">For these “marginalized” Latinos, obtaining reliable “information” (financial, immigration, legal, regulatory, housing, health, schooling and related critical issues) is a challenge. Unfortunately, many of these Latinos are functionally illiterate (both in English and Spanish) and they have a hard time navigating all the available information sources (understanding the issues, and separating “infomercials” from objective news).</span> </li> <li><span style="font-size:small;font-family:Times New Roman;">The Latinos who are most difficult to serve (also the biggest opportunity), are undocumented (without proper immigration status in the US), do not have a solid permanent employment, nor belong to a Union, and otherwise do not have a secure link to the economy or social safety nets. </span></li> <li><span style="font-size:small;font-family:Times New Roman;">A generalized profile of these undocumented Latinos is that they are hard workers (sometimes in more than one job), live in group housing, and are able to save and send cash to their relatives.</span> </li> </ol><br /> <p><span style="font-size:small;font-family:Times New Roman;">CHALLENGE: to find a “social vehicle” (cooperative, nonprofit entity) to serve as the “cluster” for these underserved, undocumented, underemployed, US-based urban Latinos, so they have better access to financial, legal, housing, health, education and related products and services. “Membership” in such an “affinity group” could entail: deposit and credit card services (remittance features); purchase of “embedded” products (cell phones with messaging services and future mobile banking); health group insurance; legal services; and in general “union” type collective services.</span> </p> <p><span style="font-size:small;font-family:Times New Roman;">Obviously, there are numerous regulatory challenges at the Federal and State level for any such “social entity”. Perhaps, undocumented Latinos will have to settle for operating individually with Federal Tax Id #s and otherwise cluster informally through the services provided by NGOs, church or other community organizations. HEY-OYE is intent on engaging other organizations (including research and operating entities) in exploring best products and services to offer these Latino individuals. </span></p> <ul> <p><span style="font-size:small;font-family:Times New Roman;"></span></p> </ul> </div><div style="clear:both;"></div> </article> <article> <h1>Immigration Reform</h1> <p>admin — Thu, 01 May 2008 11:24:00 GMT</p> <p>HEY-OYE's staff in Washington, DC is part of a series of formal and informal networks of "think tanks", congressional staff, institutions, nonprofits and NGO's that are monitoring the status of pending bills in the US Senate and House of Representatives. Interpretation of existing laws and regulations governing immigrants visa requirements and procedures and constantly in review and appraisal. HEY-OYE has filed numerous forms on behalf of clients and has developed expertise in PERM electronic filling (US Labor Certificates) and other pertinent procedures to evaluate, counsel and execute on appropriate applications on behalf of petitioners.</p><div style="clear:both;"></div> </article> <article> <h1>Covering both sides of social-economic spectrum</h1> <p>admin — Thu, 01 May 2008 11:23:00 GMT</p> <p> </p> <p>HEY-OYE staff is uniquely aware that its programs focusing on serving immigrant communities have to be tailored to specific provisions in the law that might apply to Central Americans (TPS status); and those who are appropriate for Venezuelans, who might qualify for "executive transfers" (L1-A visas) or other highly specialized treatment (EB1 and EB2 visas for individuals with "Masters Degrees").</p> <p>HEY-OYE is committed to serving immigrants in need, and to allocate costs of operation so that those unable to pay will obtain the same quality and care of counseling as those who would be in fact "subsidizing" less fortunate immigrants. </p><div style="clear:both;"></div> </article> </main></body></html>