January 2009 Vo l u m e 1 4 Issue 1 1-877-825-0750
Delaware CRA News
A d vo c a t e
A Quar terly Publication of the Delaware Community Reinvestment Action Council, Inc .
Diana Bernal with Ravi Rangan, Lori Spagnolo with Rony Peralta,
Jayne and Dom Pedante dancing the night away,
Angela LaManna encouraging Silent Auction bidders at our annual holiday party
601 N. Church Street Non Profit Org.
Wilmington, DE 19801
1-877-825-0750 or 302-654-5024 U.S. Postage Paid
Permit No. 1515
2 Letter from our Chairman and more pictures
3 Jessica Mallamace: the 2009 Money Goals
Fo u n d e d i n 1 9 8 7
Designed by Christopher Mears for DCRAC, Inc.
4 Mortgage crisis and a few responses
5 to 8 Annual Report: 07-08
9 Cancellation of Debt/DCRAC upcoming series
10 DCRAC Calendar 2009
11 DCRAC Asks & Silent Auction thank yous
12 N o d e j e p e rd e r s u cas a
Our mission is to e n s u re e q u i ta b l e t reat m e nt a n d e qu a l a c c es s to c red i t a n d ca p i ta l
fo r t h e u n d e r- s e r ved p o p u l at i o n s and communities throughout Delaware
through Advocacy, Education, Legislation, and Outreach.
Volume 14 Issue 1 Page 2
L e t t e r f ro m D o m
With renewed optimism, we approach the inaugurations of our
State and National officials. We are not so naive to think that a polit-
ical change will eliminate all the problems with our current econo- 8
my. However, we do understand that legislation is one of the effec- 7
tive methods to promote equality and access to credit and capital 7
for all citizens. -
& the rest of the 8
DCRAC, as our mission states, believes that the inter relatedness of
advocacy, education, and outreach; coupled with legislation, can 2
Anthony Albence bring about the changes needed for all people. For that reason, we 5
Charles Brittingham will continue to promote our education agenda through Money -
Carol Davis Matters! seminars, tax clinics in the community, and credit counsel-
ing sessions with individuals. We will continue to monitor the
Juana Fuentes- 7
bailout of banks and consolidation of financial institutions, we will
react to legislation in the best interests of our community, and we 5
Susan Haberstroh will advocate for fair treatment in lending for all people. 0
Nancy Lopez Now is not the time to rejoice in change alone, but rather, it is the
Gwen Miller-Reilly time to seek ways which change can improve the lives of everyone
in our communities.
Anthony B. Wright
Matthew Lee, Esq.
James H. Sills, Jr.
Founded in 1987
Diana Bernal, Angela LaManna,
Jessica Mallamace, Rony Peralta,
w w w. d c r a c . o r g
Rashmi Rangan, and Lori Spagnolo
Jim Angus, esq., Carol Andrea Charry,
IRS Commissioner Douglas Shulman with Rashmi, Jim
JoAnn Griffin, Lulu Maseko, Chris Mears, Angus with Rashmi & Angela, Dom Pedante, Gerry Kelly &
Terri Hasson, Councilman Potter, Ravi, Rashmi, Jessica with
LeAnn Pedante, Artika Rangan, and Ravi
hubby Ralph & daughters, and Daryl Graham.
HMDA, HOEPA, PC, & EJ
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels
is li kely to be more productive than energy devoted to patching leaks.
Volume 14 Issue 1 Page 3
We hope we can help you make and keep your
January Set financial goals/Attend classes money resolutions. As we face these tumultuous
M o n ey c a l e n d a r
February Establish workable budget economic times, perhaps we should shift our focus
March Order and review credit report to our very own pockets whose lining has depleted
April Free File your taxes to the fuzzy little lint balls you find after they come
May Plan to use refund effectively. out of the dryer. Really, many of us get excited now
If you had to pay taxes, review to find loose change in the washer.
June Consolidate student loans Did you know that the average savings account now
July Do a mid-year financial check up calls for 6 months of “bill money” set aside for that
August Review auto (purchase and rainy day? No time to start like the present. Log on
insurance) needs to DelawareMoneySchool.com and see what FREE
September Homeownership/Refinancing? financial classes are offered in your area. Attend
Think Housing Counseling. one. Don’t procrastinate.
October Update your will
Establish a simple realistic budget. To effectively
November Review healthcare and investment
create one, be honest with yourself. I have
preached the needs vs. wants doctrine. But, do we
December Consider donation to a charity
as consumer driven Americans honestly separate
(hope we make your list)
Of the two certainties in life, for only one you can get an extension.
If you cannot file your taxes by April 15, get an extension and avoid failure to file penalty.
Track your spending-every dime of it for a month. accurate? Is it something that was supposed to have
Throw those receipts in a shoe box. Didn’t get one at fallen off? Don’t understand it? Call DCRAC, we can
the soda machine? Make your own. You will be sur- go through it with you.
prised at the end of the month. Don’t know how to
budget? How about the envelope system? Place your Did you know that Delaware has many housing coun-
bills in the envelope for the month in date order. seling agencies? They are needed now more then
Once paid-file them away but, before you do, use ever!! Please, if you are thinking about buying a
them to create your next month’s projected budget. home or are struggling to keep it-call them.
Can’t find anywhere to save? “$.47 of every food dol-
Money is just basic math and wordy definitions.
lar is spent on dining out” Wikipedia. Need I say
Please, do not miss out on the opportunity to invest in
more? I don’t even have the space to site the health
yourself, your future, and your family’s future. Call
Je s s i c a M a l l a m a c e
factors associated with eating out. Try budgeting for
you HR Department. Get your benefits packet. Use
futuristic healthcare bills down the road when your
the “open enrollment” to make changes to your plan.
cholesterol skyrockets and your arteries are clogged
The plan may include stocks, bonds, IRA’s, and profit
with the consistency of that giggly lookin’ fat stuff that
sharing. Become informed. Don’t stick your head in
your gravy turns into overnight in the fridge.
the sand because when you pull it out-much financial
Tax season is “The most wonderful time of the year” security will have passed you by.
to run those free credit reports forms all three
bureaus. Take a hard look at it-remember some sim- I hope you have a safe, happy, and financially
ple guidelines. Is it all yours? Is the debt information informed and secure New Year.
Money never made a man happy yet, nor wi ll it. The more a man has, the more he wants.
Instead of fi lling a vacuum, it makes one.
Volume 14 Issue 1 Page 4
The Problem: failure to regulate, caused this crisis are now making
An unprecedented economic crisis is devastating deals and regulating in the middle of the night with
too small to count
TO O B I G TO FA I L
our communities where the modest income families announcements on Monday morning without so
are the hardest hit. Homeowners are losing their much as a rationale or legal basis for their decisions
homes to foreclosures. Tenants are being evicted other than emergency powers!
through no fault of their own. Job losses are rising.
Vacant properties are straining the economic, social, Three sensible steps that should to be taken:
and moral fabric of our community. Cost of living is 1. Six Month Moratorium on Foreclosures: The
burdening us with every passing day. Businesses-- federal government must mandate a loan modifi-
the economic engines of our society--are facing a cation that include interest rate adjustments and
gloomy future. The credit crunch is devastating reduction of principal.
every one. 2. Save Neighborhoods too: The federal govern-
ment should mandate that the “Bailout”money
The Governmental response: be used for lending--not mergers and acquisi-
The limbs are shattered and bleeding. Instead of a tions.
tourniquet (helping neighbors), the government 3. Give Bankruptcy Judges the Authority to resolve
performed an open heart surgery (bailing out the the crisis: Bankruptcy judges currently have the
banks). The Emergency Economic Stabilization Act authority to adjust all loans, except mortgages on
of 2008 or the infamous $700 billion bailout pack- owner-occupied properties, to create an afford-
age fails millions of Americans. Regulators, whose able repayment plan for the troubled borrower.
When you dig yourself in a deep hole, stop digging.
Seek help from reputable sources.
Countrywide: Bank of America has announced A range of solutions for the homeowners with reliable
Nationwide Homeowners Retention Program for incomes to offer them affordable payment options to
Countrywide Customers. The Program will systemati- remain current on their payments.
cally modified troubled mortgages with up to $8.4 www.mortgagehelp.citi.com
Billion in interest rate and principal reduction for near-
ly 400,000 Countrywide Financial Corporation cus- Chase
tomers nationwide. To keep families in homes, including systematic review
http://my.countrywide.com/media/FinancialAssistan of entire mortgage portfolio, enhanced programs seek
ceEN.html. to help an additional 400,000 families; with families
Customer Contact General Info: 1-800-669-6607. already helped, total foreclosure preventions project- announce some help
Homeownership Retention Division: 1-800-669-6650. ed to top 650,000; $110 billion in mortgages to be
modified. The plan calls for proactive outreach to bor-
Citi: Initiatives build and accelerate Citi’s comprehen- rows, offering them prequalified modification terms in
sive loss mitigation efforts, which prevented approxi- writing. They pledge that no additional Chase-owned
A f ew l e n d e r s
mately 370,00 foreclosures representing over $35 bil- loans will be put into foreclosure process while
lion in loans since early 2007. Citi Homeowners enhancements implemented. The program applies
Assistance Program includes extended foreclosure only to owner occupied properties with mortgages
moratorium practices, preemptive Outreach to Citi owned by Chase, WaMu or EMC, or with investor
borrowers with a goal to help the customers avoid approval.
In the confrontation between the stream and the rock, the stream always wins-
not through strength, but through persistence.
Volume 14 Issue 1 Page 5
DCRAC was founded in 1987 as a non-profit citizens’ So, we can sit back today and say we told you so.
advocacy group with a charge to keep an eye on But, our mission and the spirit of our service would
Ju l y 2 0 0 7 t o Ju n e 2 0 0 8
financial institutions. Looking at today’s economic not allow us to do that. Instead, we have been
crisis, you may wonder what happened. Did we building our capacity so that we can meet commu-
drop the ball? In meeting client needs, did we lose nity needs that we foresaw.
our advocacy focus? Good questions to ask of an
agency that prides itself to public accountability. We knew that in the face of a housing crisis, gov-
ernment would respond with a bank bailout. In
No, we did not drop the ball. In fact, we sounded fact, that was one of our reasons for opposing bank
the alarm about the impending foreclosure tsunami mergers--banks will be too big to fail and once again
nearly five years ago. We raised issues of predatory taxpayer funds will be ill-used. We knew that with
lending to our regulators during bank mergers argu- the collapse of the housing market, we will feel its
ing that predatory lending was a safety and sound- impact in every sector of our economy. We knew
ness issue. Do you remember that we were the that Delaware was (and is) ill-prepared to handle
only agency in Delaware that raised any concerns the fall-out. We are ready to face the challenge
about the Bank of America’s acquisition of MBNA? ahead of us. We hope you will become part of
Do you remember that we took on payday lending helping us head off the next financial nightmare
by our regulated financial institutions and succeed- headed our way in form of credit card and reverse
ed in forcing them out of charter renting? mortgage crisis.
To help us go far, quickly, won’t you consider becoming part of a solution?
Low Income Tax Clinic Housing Clinic
In 2003, we became a low income tax clinic to assist In 2000, we became a HUD recognized fair housing
Delaware taxpayers resolve their tax debts. We saw agency. In response to the foreclosure crisis we are
many taxpayers on fixed incomes unable to make facing, we began gradual assistance to homeowners
ends meet when their wages were levied to pay tax facing foreclosures. As a result, in addition to educat-
debts. We saw many seniors make the cardinal mis- ing consumers about their fair housing/fair lending
take of early IRA withdrawals without fully under- rights, we began educating consumers about how to
standing the tax implications. We saw many self- modify their existing predatory mortgages. We
employed taxpayers struggling to meet IRS’s strict helped more than 20 families navigate their way
proof requirement during their audits. We saw through housing, foreclosure, and lending issues. Ta x & H o u s i n g C l i n i c s
earned income credit related refunds frozen or with- When we receive a fair housing complaint, we for-
held. In this past fiscal year we helped 24 taxpayers ward it to Delaware Human Relations Commission
address 62 different tax issues. Without our free (FHAP). If the complainant does not wish to file a
assistance, many would have been left financially complaint, we will provide a summary of the case so
more insecure. Our pro bono panel helps us provide that FHAP is aware of a possible violation. In addition
access to representation to the lower income to fair housing complaints, we handle fair lending
Delawareans. We also worked closely with Taxpayer complaints where the consumer received an unfair
Advocate and Senator Biden’s office to address more loan or the lender is collecting on the loan in an unfair
complicated tax questions and situations. During tax manner, along with complaints resulting from contrac-
season, we announce other assistance available on tor fraud. During the month of April we engage in
our radio and television programs. extensive and aggressive outreach campaign.
I have been impressed with the urgency of doing. Knowing is not enough; we must apply.
Being wi lling is not enough; we must do.
Leonardo da V inci
Volume 14 Issue 1 Page 6
Categories Kent New Castle Sussex Total
Under 18 0 16 0 16
M o n ey M a t t e r s !
18 to 42 27 137 61 225
42 to 62 0 24 0 24
No info on age 231 1135 710 2076
Female 146 881 182 1209
Male 67 346 480 893
No info on gender 45 85 109 239
Under 30% median 222 813 643 1678
30% to 80% median 4 201 4 209
Above 80% median 0 7 0 7
No income info 32 291 124 447
Asian 0 4 9 13
Black 84 465 141 690
White 70 238 215 523
Latino 10 195 126 331
Other 1 21 8 30
No race info 93 389 272 754
Totals 258 1312 771 2341
We are also present on the radio and TV Special guests included: Kim Kendrick, Assistant
We have recently learned that the fate of Channel 28, Secretary for Fair Housing and Equal Opportunity at
our local programming sta on, remains uncertain for HUD, Mark Randolph, Charles Po er, Gary Pollio and
2009 (there are conﬂic ng reports). We are greatly Paul Calistro, Mary DuPont, Gregg Semanick, John
disappointed about the loss of this tremendous Bravacos, and Elvis Solivan, Brian Finn, and Narina
resource that allowed us to air live and send our dubs Bch kian. With this exper se, DCRAC helped educate
to Kent and Sussex coun es. We con nue to seek viewers about such topics as: fair housing and home
opportuni es to broadcast our educa onal messages ownership, credit scores and credit building, small
and informa on to Delawareans. Moreover, we business management, tax issues, and foreclosure
would be remiss if we did not thank Comcast for all preven on and op ons.
their past support, with a special acknowledgement
for the work of Jay Gosey, who has done so much for Radio programming also provides an eﬀec ve avenue
DCRAC in previous years, and always with a smile. to reach DCRAC’s cons tuents each week. A 2-hour
Thank you Jay! program on Saturday mornings on WRBG, an hour of
Spanish radio on the last Wednesday and an hour of
Delawareans have welcomed us in their homes since addi onal me to air our TV program allows us to
Radio & TV
February of 1999 when we launched our TV program. share 128 hours with our world wide listeners. Topics
During the last ﬁscal year, we aired 13 hours in New covered included: money management, debt collec-
Castle and 65 hours each in Kent and Sussex. We es - on, tax laws and planning, foreclosure preven on,
mate that at the conserva ve end, we reached 14,000 the home-buying process, fair housing laws, iden ty
Delawareans. the , and consumer protec on.
When we long for life without difficulties, remind us that
oaks grow strong in contrar y winds and diamonds are made under pressure.
Volume 14 Issue 1 Page 7
Economic Impact Campaign Fair Finance Campaign
We acquired a vacant We worked furiously on the charter
building, hired a con- Posted Sunday, January 6, 2008 in the News Journal, application for the proposed Stepping
tractor, argued for a Stones Community Federal Credit
zoning variance permit, OUR VIEW Union. In addition to identifying,
applied for financing, City neighborhood finance center profits from recruiting, and training new board
got grant funds from far-sighted donors members, we worked diligently to
Welfare and Longwood Too often the public perception of charitable make our pro forma work for us!
and turned it into a giving is limited to the necessities of subsistence While it would be October 6, 2008
warm, welcoming, cen- -- provisions of food, clothing and shelter. before we submit the application, we
ter for the community. did not put this too far on the back
Hope you were here on But next-step giving -- to enable the down-and- burner. Amazingly, the interest from
out to become contributors to the society that
July 11, 2008 to see the community is growing. We were
invested in their well-being -- is as necessary,
how proud we are and deserves equal honor. actively engaged in the Foreclosure
indeed of what we Prevention task Force at the local
accomplished. Grants to the Delaware Community level and anti-predatory lending legis-
What a great way to Reinvestment Action Council from five charita- lation at the national level. We
ble organizations -- the Longwood Foundation
celebrate the 30th stayed true to our responsibilities by
($100,000), Welfare Foundation ($25,000),
anniversary of CRA and National Catholic Campaign for Human commenting on mergers, regulations,
DCRAC’s 20th birthday! Development ($20,000), Speer Trust ($30,000), and legislation.
Citi Foundation ($25,000) and the Bank of
America ($50,000) -- deserve recognition.
These contributions will help turn a vacant two-
story house on Wilmington's East Side into a
During this fiscal year, our new credit union and personal-finance training cen- Diana Bernal to our team.
ter in a low-income neighborhood.
Chair Domenic Pedante has been Jessica Mallamace, Lori
leading us into a new organizational The financial training will be an invaluable Spagnolo, Rony Peralta, and
phase of growth, and increasing resource precisely because it will be in the Rashmi Rangan continue
sophistication. A critical part of this hands of a competent organization familiar with their tenure into the next fis-
evolution is the recognition by the the pitfalls of personal money management. cal year.
Institute for Standards of Excellence
The grants are as much an investment in the
We were blessed with a
E ve n t s , s t a f f , vo l u n t e e r s !
that we are a well managed, work of DCRAC Executive Director Rashmi
responsibly governed, nonprofit cadre of volunteers that
Rangan, a zealous and effective advocate for
organization. Our Standards will consumer education. helped us through this period
continue to guide DCRAC as it of growth. Howard High
grows, ensuring a solid, effective, Since its founding, DCRAC has done the hard- School volunteers were a
scrabble work of preparing low-income resi- welcome addition. We also
and responsible path forward into dents for long-term home ownership. It has
the future. established a stronger rela-
been a liaison to people who need hands-on
help to navigate personal finances to reach a tionship with University of
We also said good bye to Chelsea level many thought impossible. And it's stepped Delaware for a pool of volun-
Newman (now a law student at up in recent months during mortgage foreclo- teers into the next fiscal year.
Widener and a National Guard) and sure troubles. The entire community came
Christopher Tijerino. During this through for the grand open-
All of the contributors are to be applauded for
period we invited Tanya Ennis for a ing of our Economic Impact
supporting this community jewel.
short period until we welcomed Center. Thank you so much.
I’ve learned that people wi ll forget what you said, people wi ll forget what you did,
but people wi ll never forget how you made them feel.
Volume 14 Issue 1 Page 8
603 Capital Administration EJC FFSC FHIP MM! Tax Clinic TOTAL
Ordinary Income/Expense Campaign
Direct Public Grants 100,000.00 0.00 1,800.00 10,000.00 0.00 0.00 0.00 111,800.00
Direct Public 0.00 7,500.00 45,000.00 0.00 0.00 47,500.00 29,000.00 129,000.00
Government Grants 0.00 8,800.00 21,750.00 0.00 110,950.90 0.00 16,650.00 158,150.90
Indirect Public 0.00 2,542.99 0.00 0.00 0.00 0.00 0.00 2,542.99
Investments 0.00 5,119.53 0.00 0.00 0.00 0.00 0.00 5,119.53
Program Fees 0.00 3,960.00 0.00 0.00 0.00 0.00 0.00 3,960.00
Special Events 0.00 29,931.36 0.00 0.00 0.00 0.00 0.00 29,931.36
Annonymous 0.00 600.00 0.00 0.00 0.00 0.00 0.00 600.00
Total Income 100,000.00 58,453.88 68,550.00 10,000.00 110,950.90 47,500.00 45,650.00 441,104.78
Building Occupancy 87,017.86 1,388.47 271.90 172.76 826.37 536.29 607.44 90,821.09
Contract Services 8,659.50 3,767.25 9,718.00 725.00 1,675.00 400.00 3,400.00 28,344.75
Operations 2,804.90 6,255.01 2,146.21 37.79 3,450.51 624.16 1,083.67 16,402.25
Other Types 170.19 14,354.12 4,306.34 1,104.63 1,163.73 522.40 2,099.73 23,721.14
Payroll Expenses 0.00 5,550.78 10,000.00 6,267.18 77,629.05 41,644.99 31,718.20 172,810.20
Programs 0.00 1,867.44 7,299.80 1,419.64 17,366.60 2,229.69 5,946.96 36,130.13
Travel and Meetings 24.75 157.37 2,320.54 273.00 8,839.64 1,542.47 794.00 13,951.77
Total Expenses 98,677.20 33,340.44 36,062.79 10,000.00 110,950.90 47,500.00 45,650.00 382,181.33
Net Ordinary Income 1,322.80 25,113.44 32,487.21 0.00 0.00 0.00 0.00 58,923.45
Auditor’s report will be posted on www.dcrac.org no later than February 15, 2009
Economic Impactors Celebrate CRA October 2, 2007
Longwood Foundation CRA 30th Anniversary
US Dept. of Housing & Urban Development Citi
Momentum Makers CARE DE
Bank of America CRA Anniversary
Internal Revenue Service Commerce Bank
GMAC DCRAC Anniversary
Speer Trust Commission AARP Delaware
Catholic Campaign for Human Development Artisans’ Bank
Paradigm Shifters Bank of America
HSBC Bank USA National Association, NA Citizens Bank
JPMorgan Chase City of Wilmington
Discover Bank GMAC Bank
Dream Weavers JP Morgan Chase
Grant-in-Aid PNC Bank
Rashmi & Ravi Rangan
T h a n k yo u
New Castle County
City of Wilmington Friends of DCRAC
Ministry of Caring Division of Human Relations, New Castle County
Commerce Bank Council, NCALL Research, Inc., Reliable Home
Sussex County Council Inspections, and Wilmington City Council
You cannot dream yourself into a character;
you must hammer and forge yourself one.
Henr y David Thoreau
Volume 14 Issue 1 Page 9
Normally, debt forgiveness generates taxable If your debt is forgiven you will receive a 1099-C.
income. The Mortgage Forgiveness Debt Relief Act Read it carefully--par cularly Box 2 (amount of debt
Cancellation of Debt &
F i r s t t i m e h o m e b u ye r c re d i t
of 2007 allows homeowners whose mortgage debt cancelled) and Box 7 (fair market value). If there is
has been par ally or fully forgiv- an error, contact your
en to claim special federal lender.
income tax relief.
1. Must be taxpayer’s primary Do make sure that your
residence. former lender and IRS
2. Debt was forgiven between have your new address.
2007 and 2012.
3. The debt must have been To claim relief complete
used to buy, build or improve the relevant por ons of
the residence as well as Form 982 and a ach it
secured by it. and Form 1099-C to the
4. Reﬁnancing debt less than or federal tax return.
equal to the amount of the
mortgage principal prior to reﬁnancing is also To encourage homeownership, Congress also enact-
eligible for relief. ed legisla on providing a tax credit (which must be
Debt that does not qualify under the Act may s ll repaid over me) of as much as $7,500 for ﬁrst- me
qualify for exclusion for income taxes under the home buyers. Only homes purchased between April
insolvency exclusion. 9, 2008 and July 1, 2009 are eligible.
Your Money or Your Life A Recipe for Change
Graduates will not only be able to begin their credit Resume building, interviewing, career development,
building journey, they will walk away understanding so skills such as punctuality, workplace ethics, com-
their own rela onship with money, their ﬁnancial puters, internet, all sound overwhelming? Not any-
goals, their credit report, managing their bank more. We have developed a curriculum that will help
accounts--including reconciling their check books, you expand your opportuni es. We need 8 dedicated
how to read a Truth in Lending Act Disclosure state- students to launch this class. This free seminar will be
ment, etc. Graduates from the last two sessions have a 5-week/10-hour course.
asked that this become a 10-week, 20 hour course.
Our upcoming series
We will wait to see what you have to say. So, won’t Pilot begins
you join us? Sea ng is limited to no more than 10 Saturday, February 21
par cipants. We ask for your absolute me commit- Economic Impact Center (603 North Church Street)
ment. In other words, we ask that you are punctual 10:00 am to 12:00 noon.
(in credit, 35% of your score is based on whether you
pay on me) and a end each and every hour of the
10 hours with us. Our next Series begins on Saturday, For more informa on and to register
January 10 from 10 am to 12 noon at 603 N. Church for any of these series please contact
St. We are asking for a small dona on of $10/person. Diana Bernal at 302.654.5024 ext. 101
If you cannot aﬀord, do ask for our scholarship
Tell me and I'll forget. Show me, and I may not remember.
Involve me, and I'll understand.
Native American Saying
Volume 14 Issue 1 Page 10
24-Jan-09 9 am to 1 pm
D C R AC c a l e n d a r
Sussex County West Complex Building 8-Apr-09 6 pm to 8 pm
22215 Dupont Blvd, Georgetown
24-Jan-09 2 pm to 6 pm
Trinity Episcopal Church 2101 West Sixth St., Wilmington
1108 North Adams Street, Wilmington 15-Apr-09 6 PM to 8:00 Pm
Mortgage Matters! NCALL Research
18-Feb-09 3 pm to 8 pm
363 Saulsbury Road, Dover
Howard High School
22-Apr-09 10 am to 4 pm
401 East 12th Street, Wilmington
Find out if your servicer/lender will be present. Location TBD in Sussex County
16-Mar-09 6 pm to 8 pm
Trinity Espiscopal Church 23-May-09 10 am to 4 pm
1108 North Adams Street, Wilmington LocationTBD in Kent County
Tax Forum focused on small business/self-employed
16-Jun-09 6 pm to 8 pm
Sussex County West Complex Building
22215 Dupont Blvd, Georgetown
Tax Forum Locations to be determined
5-Aug-09 3 pm to 8 pm
Sussex County West Complex Building 16-Dec-09
22215 Dupont Blvd, Georgetown 1 pm to 3 pm Milford
6-Aug-09 3 pm to 8 pm
4 pm to 5 pm La Exitosa
Mother Union AME Church
701 E 5th Street, Wilmington, DE 19801 6 pm to 8 pm Georgetown
In Kent County, we need partners to help us
host our Foreclosure Prevention Workshop on
6-Oct-09 11 am to 1:30 pm
November 18 from 3 pm to 8 pm and our
Mother Union AME Church Credit Clinic on May 23, 2009 from 10 am to 4
701 E 5th Street, Wilmington, DE 19801 pm.
Mortgage Matters! is designed to bring
18-Nov-09 3 pm to 8 pm Delawareans and their lender/servicer for a
Location TBD in Kent County quick one-on-one resolution of their mort-
19-Nov-09 3 pm to 8 pm gage controversies. Please contact us to find
Mother Union AME Church out if your lender/servicer will be on hand on
the date of our workshop.
701 E 5th Street, Wilmington, DE 19801
When asked how much educated men were superior to those uneducated,
Aristotle answered, 'As much as the living are to the dead.'
Volume 14 Issue 1 Page 11
Neighborhood Assistance Act State Employees Charitable Talent pool
Giving Campaign DCRAC warmly welcomes Jim Angus, esq.,
We n e e d yo u r T i m e ,
You now have a greater incen-
Ta l e n t , a n d / o r M o n ey
Thank you so much to those of to our Low Income Tax Clinic family. With
tive to donate to DCRAC! Not time on his hand and a tremendous skill-
you who already help us finan-
only can you claim the federal set, Jim was looking to continue to con-
tax breaks, you can also claim cially each year through the tribute to society. We thank our lucky
state tax credits. SECC contribution. Our SECC stars and strong networks (including for-
number is: 70099 mer employee Roger Hesketh) that led him
The NAA requires individuals to to us. In addition to helping our tax clinic
make a minimum donation of Combined Federal Campaign clients downstate, we will utilize Jim’s
$5,000 and organizations to expertise in our Housing Clinic. He brings
Umber is 23609.
make a minimum donation of to us a knowledge base that is all encom-
$10,000 to receive this credit. passing from his civil rights background
Not a government employee?
You can still consider your and a skill set that includes training and
For more information about
dispute resolution. Words are not enough
the tax credit program, visit donation to us. You can send
to say thank you.
www.destatehousing.com/ us a check any time! Our fed-
services/at_naa eral tax identification number If you have time on your hands and talents
that you don’t want to waste away, won’t
We sincerely hope we are on is 51-0329119. Your donation
you join the growing DCRAC family?
your radar for giving! Thanks. to DCRAC is tax deductible to
the fullest extent of the law. Thanks.
Thank you auction item donors generous with their donations as well. Lori Spagnolo
Polk Family: A basket of cheer. Dom Pedante: Phillies helped us secure gift certificate donations from local
Tickets, Blue Rocks Tickets, Massage by Ginny Fisher, restaurants.
Cake by Andrea, Biden cuff links, American Express, Crab
Feast, Christmas Wreath and gift certificates to Outback Thank you donors for space, beer & wine, DJ, desserts,
and Corner Bistro. Trippi & Keya Congo: Sixers’ Tickets. and more. Mrs. Polk--space and DJ. Kenny’s ShopRite--
Scrumptious Desserts. Domenic Pedante & Anthony
Holiday party and Silent auction
Tabatha Castro: A Will. Ann Wilkinson of Hands on
Health: Two Therapy treatments. Gwen and Al Griffith: Albence--a case of wine each. Al Griffith, Ravi and
Autographed hockey stick and Flyers’ tickets. Pat Rashmi Rangan--a case of beer each. LeAnn Pedante--
Ciarrocchi: A tour of CBS studios. Renowned artist our in-house unpaid graphic artist. Toscana --discounted
Charlie Colombo: Autographed his painting for bidder hors de oeuvres!
Dom Pedante. Deb & Bernie August: Sports parapherna-
Thank you bidders! Councilman Charles Potter, Tracey
lia. Susan Haberstroh: A fruit basket. Terri Hasson and
Streck, Dom Pedante, Gladys Spikes, Terri Hasson, Keya
Sharon Boland: A Bakers’ basket and an Italian Dinner
Congo, Gerry Kelly, Jaye Pedante, Rashmi Rangan
Basket. Ms. Pat: A Mary Kay basket and a wood carved
Andrea Sereni, Artika Rangan, Lori Spagnolo, Chelsea
hand painted holiday painting. Joan Fultz secured a
Newman, Ann Wilkinson, Diane Wright, Deb August,
donation of two Christmas Trees. David Bakey: A hair
Gwen Miller, Tabatha Castro, Susan Haberstroh, Matt
cut and color at Trilogy Salon. Christina Gioffre: Talents
Kane, and Donna DeLavrentis.
as a painter with a $40 gift certificate to her business,
The Love, Marriage, Baby Carriage. Jim Baker, Chris Thank you Angela LaManna , Domenic Pedante, and Lori Spagnolo
Coons, Tom Carper, Mike Castle and Joe Biden were and volunteers Sherry Rose, Bambi Baer, and Shirley Baer.
Nothing can stop the man with the right mental attitude from achieving his goal;
nothing on earth can help the man with the wrong mental attitude.
Volume 14 Issue 1 Page 12
¿Los pagos de su hipoteca lo están haciendo Cómo evitar entrar en incumplimiento de pago y la
N o d e j e p e rd e r s u c a s a
tambalear? ejecución hipotecaria
Esto es lo que usted puede hacer Si usted se ha atrasado con sus pagos hipotecarios,
considere discutir con el administrador de su prés-
Conozca su hipoteca
tamo las siguientes opciones para prevenir la ejecu-
¿Sabe usted qué tipo de hipoteca tiene? ¿Sabe si
sus cuotas irán aumentando? Si no puede contes-
Reinstalación de la hipoteca: Esta opción le per-
tarse estas preguntas comuníquese con la entidad
mite pagar la totalidad del monto atrasado impago,
que administra su hipoteca y haga todas las pregun-
más cualquier cargo o multa por el atraso de sus
tas que considere necesarias.
pagos, a una fecha específica. Plan de repago: Esta
Estos son algunos ejemplos de los tipos de hipote- opción le concede un período de tiempo fijo para
cas más communes: repagar el monto atrasado sumándole una parte del
- Hipoteca con tasa ajustable combinada monto vencido al importe de sus pagos mensuales
- Hipoteca con tasa ajustable regulares. Tolerancia por incumplimiento de pago:
- Hipoteca con tasa fija En esta opción se reduce el monto de sus pagos
Si se atrasó con sus pagos mensuales o se suspenden por un período de tiem-
Si está teniendo problemas para cumplir con el po. Modificación del préstamo: En esta opción
pago de sus mensualidades, comuníquese con el usted establece un acuerdo para cambiar de man-
administrador de su préstamo lo antes posible para era permanente uno o más términos de su contrato
discutir sus opciones. hipotecario.
Para mas información llame al 888-995-HOPE
Departamento de Vivienda y Desarrollo Urbano de EE.UU espanol.hud.gov
Venta de su vivienda: La venta de su casa tal vez Durante todo el proceso de prevención de ejecución
podría proporcionarle los fondos necesarios para hipotecaria haga lo siguiente:
pagar la totalidad de su deuda hipotecaria. - Anote todas las comunicaciones que mantenga
Bancarrota: Generalmente, la bancarrota o quiebra con el representante de la entidad hipotecaria.
personal es considerada la opción de último recurso
- Dé seguimiento por escrito a todas las conversa-
porque tiene un alto impacto negativo a largo plazo.
ciones que mantenga con el representante de la
Cómo establecer contacto con el administrador de entidad que administra su préstamo enviándole
una carta con el detalle de lo tratado verbal-
Antes de iniciar algún tipo de conversación sobre su
problema registre sus ingresos y sus gastos y calcule mente.
el valor neto de su amortización o acumulación - Cumpla con todos los plazos que le otorgue la
hipotecaria. entidad que administra su préstamo.
Luego anote las respuestas a las siguientes pregun- - Permanezca en su casa durante el proceso de
tas: prevención porque si se muda, es posible que no
- ¿Por qué motivos incumplió el pago de su(s) pueda beneficiarse de determinados tipos de
mensualidad(es) hipotecaria(s)? asistencia.
- ¿Su problema es temporal, de largo plazo o
permanente? Para mas información llamen a
Rony Peralta 302-654-5024 x 102 o
- ¿Qué le gustaría que sucediera? ¿Desea conservar Diana Bernal 302-654-5024 x 101
Nunca, nunca, nunca, se rindan.
Winston Churchi ll