Spotlight

9 June 10	Equal Justice Works Fellow at SBLS Helps Brooklyn Couple Stay in Home of 30 Years Equal Justice Works AmeriCorps Legal Fellow, Laurie Izutsu-Keener worked with South Brooklyn Legal Services to represent an elderly couple, Mr. and Mrs. B, who had resided in their home for 30 years. In 2007, the couple was solicited by a mortgage broker to refinance with an ARM loan that significantly increased their mortgage payments. Though the couple stressed to their broker that the new mortgage payment was too high, the broker assured them they could refinance into a more affordable rate in six months. When the six months had passed, the broker told the couple they did not qualify for a refinance, leaving them with unaffordable mortgage payments. Later that year, Mr. B lost his part-time job after he suffered a stroke that left him immobile. As her husband’s primary caretaker, Mrs. B’s ability to work outside the home was reduced, preventing her from bringing in substantial income. The couple borrowed money from friends, family members and their church to make payments to their mortgage while their other expenses fell behind. Unfortunately, the money borrowed was not enough and in 2009 the mortgage company filed for foreclosure on the home. Laurie and her supervisor submitted a settlement letter to the couple’s mortgage company requesting a permanent loan modification that would decrease the loan’s interest rate. While the initial offer was rejected, Laurie was persistent and the mortgage company eventually agreed to a modification under the Home Affordable Modification Program (HAMP). Laurie was then able to help the couple obtain financial assistance from the New York Times Neediest Subprime Cases Fund (Fund), which will help with the mortgage payments as well as other household expenses. Visit Equal Justice Works for more information about their work. (Foreclosure Prevention) \| More SBLS Spotlights >

9 June 10

Equal Justice Works Fellow at SBLS Helps Brooklyn Couple Stay in Home of 30 Years

Equal Justice Works AmeriCorps Legal Fellow, Laurie Izutsu-Keener worked with South Brooklyn Legal Services to represent an elderly couple, Mr. and Mrs. B, who had resided in their home for 30 years.

In 2007, the couple was solicited by a mortgage broker to refinance with an ARM loan that significantly increased their mortgage payments. Though the couple stressed to their broker that the new mortgage payment was too high, the broker assured them they could refinance into a more affordable rate in six months. When the six months had passed, the broker told the couple they did not qualify for a refinance, leaving them with unaffordable mortgage payments.

Later that year, Mr. B lost his part-time job after he suffered a stroke that left him immobile. As her husband’s primary caretaker, Mrs. B’s ability to work outside the home was reduced, preventing her from bringing in substantial income. The couple borrowed money from friends, family members and their church to make payments to their mortgage while their other expenses fell behind. Unfortunately, the money borrowed was not enough and in 2009 the mortgage company filed for foreclosure on the home.

Laurie and her supervisor submitted a settlement letter to the couple’s mortgage company requesting a permanent loan modification that would decrease the loan’s interest rate. While the initial offer was rejected, Laurie was persistent and the mortgage company eventually agreed to a modification under the Home Affordable Modification Program (HAMP). Laurie was then able to help the couple obtain financial assistance from the New York Times Neediest Subprime Cases Fund (Fund), which will help with the mortgage payments as well as other household expenses.

Visit Equal Justice Works for more information about their work.

(Foreclosure Prevention) | More SBLS Spotlights >