Congresswoman Watson Coleman at Plainfield Meet and Greet

  

Bonnie Watson Coleman (D), who has served as the U.S. Representative for New Jersey's 12th congressional district since 2015, visited The Plainfield Senior Citizens Center for an educational Meet & Greet on  October 16 ,  2015. The event was well received by the Plainfield Seniors, and various elected local and county officials including Freeholders Vernell Wright and Bette Jane Kowalski.

Some of the more salient points of interest addressed by the Congresswoman include the following:

A.  Citizen voting rights

B.  Medicare / Medicaid reform

C.  Gun control laws

D.  Affordable Senior Housing  

A question and answer period was held at the end of Congresswoman Watson Coleman's presentation.  Her assistant offered personalized attention to interested seniors after the program. 

Tuesday, Oct. 20, was a momentous day for Union County College President Margaret M. McMenamin, as she held a ribbon cutting event at the new location of the Health Sciences programs at the college's Plainfield campus. 

Joined by Assemblyman Jerry Green and Plainfield Mayor Adrian Mapp, all three agreed that the day marked a new beginning for the educational opportunities available in the City of Plainfield. President McMenamin was also joined by Freeholder Vernell Wright and many members of the college's board, including Board of Trustees Chairman, Victor M. Richel, who addressed the audience. Richel reflected on the opening of the Plainfield campus, more than 20 years ago, and how this addition and upgrade will help fulfill the demands in healthcare training today. 

Also present were members of the Thul family. Louise Thul, was joined by sons, Larry and James Thul, to participate in the ribbon cutting ceremony and celebration of the new use of the building that formerly served as Thul Auto Parts. The property was originally acquired by the college in November 2013 from the Thul family. James Thul spoke on behalf of the family and expressed how pleased he was to see the building in use again and serving those in the community, just as his family did for more than 100 years. The college's Practical Nursing, Emergency Health Sciences, and Paramedic programs are in this building located at 225 Roosevelt Ave. 

City of Plainfield Mayor Adrian O. Mapp called an emergency meeting with HOPES Mini Council yesterday morning regarding the shortage of cookies at the neighboring HeadStart programs.  Mayor Mapp's executive secretary, Cynthia Blake tried to cover up the shortage by producing large delicious cookies at the mini council meeting.  One of the mini council members continuously shouted out "MORE COOKIES" as the executive business administrative secretary, Marilyn Nieves, filled the mini council's cups with water. Mayor Mapp's administration laughed off the demand, while Rick Smiley, the business administrator disseminated state of the arts-N-crafts cardboard drones.  Chief of staff, John Stewart pinned the Mayor's Award on the lapels of the mini council and the finance director, Ron West said it was within the budget.  A major crisis was averted.

FOR IMMEDIATE RELEASE: October 20, 2015                            

CONTACT:

Alex Tucciarone

646-200-5282

[email protected]

 

SUN Foreclosure Prevention Program Now Available in New Jersey

 

Program praised nationwide as nonprofit solution that keeps hundreds of families in their homes now coming to state with highest foreclosure rate in U.S.

 

Building on its success in Massachusetts, Maryland, Rhode Island, and Illinois, Boston Community Capital (BCC) today is announcing that its groundbreaking foreclosure relief program, the Stabilizing Urban Neighborhoods (SUN) Initiative, is accepting applications from homeowners across New Jersey. The state recently overtook Florida to post the highest foreclosure rate in the country, with foreclosure filings listed on one out of every 171 housing units, according to housing data firm RealtyTrac.

 

The innovative, non-profit SUN program, which has kept over 600 families facing foreclosure in four states in their homes, buys troubled homes from lenders at fair market prices and sells them back to the original homeowners with mortgages they can afford. The program is financed primarily through foundations and private investors.

 

"Seven years after the start of the Great Recession, we've had a tale of two recoveries," BCC CEO Elyse Cherry said. "Far too many homeowners remain underwater and at great risk of foreclosure. Often entire neighborhoods have never recovered from the artificial inflation of their housing prices. We see that clearly in New Jersey, where the foreclosure rate is more than double than the national average.

 

"Our track record shows that the SUN program can make a meaningful difference in communities where new solutions are badly needed," Cherry said. "And we've proven that many struggling homeowners are ready and able to be good solid borrowers, if they have a mortgage that makes sense."

 

Cherry made the announcement at the Housing and Community Development Network of New Jersey's 2015 Conference & Meeting in East Windsor, as part of a panel entitled, "Getting Out from Underwater: Tools for Helping NJ 

Families Facing Foreclosure." The Network is a statewide association of more than 250 affordable housing and community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities.

 

"New Jersey has continued to lead the nation in home foreclosures for far too long," said Staci Berger, president and chief executive officer of The Network. "We need policies, programs and resources to fix this crisis that is harming families, damaging neighborhoods and holding back the economy for everyone. We're pleased to introduce the SUN Initiative to our members who are working with New Jerseyans facing foreclosure, and hope that this innovative approach can help keep more families in their home in an affordable way."

Families interested in learning more about the SUN Initiative in New Jersey can contact SUN directly at the toll-free number, 855-604-HOME (4663), via email at [email protected] or on the web at   www.sunhomehelp.org. There is no fee to apply.

 

Started in 2009, the SUN Initiative has been praised by community, elected and financial leaders as a pioneering, sustainable, and scalable strategy for tackling the foreclosure crisis that continues to ravage communities and put a drag on the economy. The Washington Posttouted BCC's SUN program as a "model to save foreclosed homes." Federal Reserve Chairman Ben Bernanke called SUN an innovative strategy to prevent occupied homes from becoming vacant and creating a strain on the community.  Salon calls the program "a win-win that people in power should have been doing all along." It has also been featured on television programs like PBS NewsHour, NPR's All Things Considered, CBS Evening News and MSNBC's All in With Chris Hayes, and in print outlets such as   The Wall Street Journal,   The New York Times and t he Los Angeles Times.

 

The SUN Initiative has provided $94 million in mortgage financing for 460 properties to help more than 600 families remain in their homes. Borrowers' original outstanding mortgage principal has been reduced in the aggregate by nearly $50 million. The program is growing rapidly; and of the hundreds of mortgages SUN has renegotiated, nearly all of them pay on time.

"With the assistance and guidance of knowledgeable and dedicated professionals, the SUN Foreclosure Prevention Program helps homeowners facing extraordinary hardships," said Mayor J. Christian Bollwage of Elizabeth. "Through these efforts, residents have the opportunity to access resources and receive valuable information about the foreclosure process. I encourage the community to learn more about our partnership."

"Unfortunately, the state of New Jersey and our city have been affected greatly by the foreclosure crisis," said Mayor Jose 'Joey' Torres of Paterson. "It is imperative that we help homeowners and working families not lose their hard earned investment. The SUN program offers an opportunity for many to stay in their homes, and we encourage residents facing difficulties to look into it."

"Many New Jersey residents have found themselves struggling with housing issues," said Mayor Adrian O. Mapp of Plainfield. "The program offered by Boston Community Capital may be a viable solution for homeowners who are late on their mortgages and have a stable income, even Social Security or disability. I encourage our residents in need to explore the program."

 

The SUN Initiative is not a bailout or charity.  Here's how it works:

• Through housing counseling programs, local media, and other community partners, Boston Community Capital connects with homeowners facing foreclosure who genuinely want to stay in their home and responsibly pay an affordable mortgage that reflects the current fair market value of their home.

• SUN qualifies potential borrowers by carefully analyzing their finances and employment situations and employs strong underwriting standards to assure that borrowers have the ability to pay a properly sized and priced mortgage. Applicants must show they fell behind on payments because they had a predatory loan or experienced a demonstrable hardship, such as illness or job loss.

• Using primarily money raised from private investors and foundations, SUN negotiates with the lender to buy a home at the current distressed market value - which is substantially less than the amount originally paid by the homeowner during the housing bubble.

• SUN resells the home, typically at current fair market value, to the existing occupants with a new fixed-rate 30-year mortgage they can afford.

• Homeowners' monthly mortgage payment and principal balance are reduced on average by close to 40 percent. 

• To guard against fraud and speculation, SUN institutes a shared appreciation program requiring that BCC receive a portion of the gain if the value of a home appreciates over time.  Any gain will be reinvested in the communities BCC serves.

• To further protect investors, the Initiative maintains strong loan loss reserves.

Boston Community Capital (BCC) is a non-profit community development financial institution dedicated to building healthy communities where low-income people live and work. Since 1985, BCC has invested more than $1 billion in projects that provide affordable housing, good jobs, and new opportunities in low-income communities, connecting these neighborhoods to the mainstream economy.

 

http://bostoncommunitycapital.org/

http://www.sunhomehelp.org/

October 28th (Wednesday) - 
Clarion Hotel & Conference Center - Toms River
815 Route 37 West * Toms River, NJ 08755 * Directions

COMPANIES ATTENDING: 
* Seabrook Village * Bayada Home Health Care
* The New Jersey Institute for Disabilities * HealthSouth Rehab Hospital of Toms River
* Revera Health Systems / Whiting Healthcare
* Meridian at Home* Preferred Home Health Care 
* AMIB, Inc. * Epic Health Services * Rose Garden Nursing and Rehabilitation
* Barnabas Health Monmouth Medical Center* ALLIES, Inc. 

For more information please contact Guide Publications.
(732) 263-9675 * Email: [email protected]