Foreclosure mess: what can be done?

 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.

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.

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.

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.

For more information email: info@hey-oye.com or call (202) 342-6369.