Community Housing Innovations

CHI-Renovated Foreclosures: Blow-Out Sale

With awards from the federal government’s Neighborhood Stabilization Program on Long Island, Community Housing Innovations has six RENOVATED properties at below market prices. This is a once in a lifetime opportunity to buy foreclosures that are rehabilitated to the high standards required by Nassau County and CHI, so you may buy with confidence. Prices start as low as $240,000, with grant funds available. Check out the first four properties below, and more will be added as construction work is completed.

Cape in Hempstead
$230,000

Duplex in Uniondale
$319,000

High Ranch in Freeport
$329,000

Cape in Hempstead
$275,000
This property has an excepted offer.

Click here for additional listings in Suffolk County and Westchester.
A renovated 2-family in Bay Shore and BRAND NEW CONDOS in White Plains. Check out the 3 units we have left in the most energy-efficient residence in the city.
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CHI becomes one of first developers to address federal Settlement Order

CHI Executive Director Alexander Roberts hands Greenburgh Supervisor Paul Feiner a check for $150,000, representing the down payment on a 22-unit affordable and workforce housing development in Ardsley. Left to Right. Greenburgh Planning Commissioner Thomas Madden, Developer Conrad Roncati, Town Councilwoman Sonja Brown , Ardsley Mayor Jay Leon, CHI Executive Director Alexander Roberts, Greenburgh Supervisor Paul Feiner, Councilman Francis Sheehan, Councilwoman Diana Juettner , Councilman Kevin Morgan, Town Clerk Judith A. Beville, and Town Attorney Tim Lewis

A landmark development in Ardsley is among the first to embrace the federal discrimination Settlement Order that requires Westchester County to develop 750 units of fair and affordable housing. Community Housing Innovations, in partnership with private developer Architectura, won approval from the Village of Ardsley for a design (see picture) that would add 17 units of affordable housing in compliance with the Settlement Order, along with five homes reserved for “workforce” housing for firefighters and emergency medical service volunteers with slightly higher income qualifications. The property is owned by the Town of Greenburgh, which agreed to sell the property for $1.21 million. The development relies on county and New York State subsidies and the approvals process is expected to take between a year and 18 months.

A 22-unit mixed income development is among the first that will specifically comply with a federal Settlement Order between Westchester County and HUD.

According to Ardsley Mayor Jay Leon, who had championed the development for nearly six years, “Affordable housing is the right thing to do.”

In August 2009, Westchester County Executive Andrew Spano signed a settlement in federal court committing the county to build or acquire 750 units of affordable housing in the 31 most segregated Westchester County communities.

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White Plains, NY Community Housing Innovations (CHI) will hold a Fast-Track™ Loan Modification (FTLM) event in White Plains on September 20, 21 and 22 at 190 East Post Road in White Plains. A team of loan specialists from Wells Fargo/Wachovia will meet with up to 100 homeowners facing default or foreclosure, with the goal of resolving their stalled applications for mortgage loan modifications.

The three-day FTLM event is sponsored by Community Housing Innovations (CHI), and three other non-profit, HUD approved housing counseling agencies: Housing Action Council, Human Development Services of Westchester and Westchester Residential Opportunities. The upcoming September event follows a similar one held in June at which Bank of America loan specialists met with the first group of homeowners seeking relief.

Fast-Track™ Loan Modification (FTLM) program is designed to address the concerns of both homeowners and bank representatives. Many homeowners have spent several months in the frustrating process of attempting to speak to a knowledgeable bank representative about their status. They have found themselves on the phone with a call center representative who could not locate their file or who was unfamiliar with their case. At the same time, many bank representatives find it difficult to help homeowners who do not have their paperwork in order. The FTLM program addresses both of these concerns by bringing bank representatives and homeowners together and making sure that homeowners have their paperwork in order. The housing groups believe that providing the bankers with well-prepared applicants should significantly speed up the processing time.

Wells Fargo/ Wachovia customers, who are facing foreclosure and are interested in participating, should call 1-877-HUD COUNSELING (1-877-483-2686). They will be offered free counseling and an appointment at the September event.

“We recognize that personal contact at events like this can help some customers manage the sometimes complex modification process,” stated Junius C. Ferebee, Assistant Vice President of Wells Fargo. “We work to provide a confidential environment for customers to discuss their credit issues with us and, generally speaking, about half of the customers we have worked with at local events have received a decision on the spot or shortly thereafter.”

“It is a terrible situation when people worry if they will be able to remain in their home and cannot get a straight answer,” said Alexander Roberts, Executive Director of Community Housing Innovations (CHI). “The CHI Fast Track™ Loan Modification program is designed to remove roadblocks from the loan modification process, give people face-to-face access to loan specialists and enable bankers to make quicker decisions.”

Rose Noonan, Executive Director of the Housing Action Council described the FTLM as, “a potentially better framework in which to apply for a loan modification. Homeowners are counseled by a housing counselor prior to the FTLM event, and the event itself is an opportunity for the homeowner and counselor to ask questions directly to the loan officer. Of course, the loan officer reviews all relevant borrower information, and leaves the meeting with documentation in hand. The benefits of the process are that it is personal in nature and more efficient at transmitting information for the bank’s review process.”

The first FTLM event was held with Bank of America loan officers at the end of June. An exit survey of the meeting participants revealed a high level of satisfaction by virtue of having a person familiar with their case with whom to talk.

“Bank of America was pleased to partner with CHI for the first FTLM event and provide face-to-face counseling for customers seeking assistance with their mortgages,” said Jerry Durham, the bank’s Vice President for Homeownership Preservation and Advocacy. “We are in the process of reviewing the customer cases now for the Home Affordable Modification Program.” Durham apologized that the underwriting process has taken longer than originally expected, “The hundred Bank of America customers will be first reviewed for the Home Affordable Modification Program, and if any of the homeowners are deemed ineligible, Bank of America will review them for a proprietary modification.”

Elizabeth Doster and her daughter Catherine Griffin of Elmsford are homeowners who received word of an approved loan modification and are thrilled with the results. “We can’t imagine how much longer this would have dragged on if we hadn’t participated in this program,” said Griffin, who had been waiting eight months for an answer. Her modification will result in a mortgage payment of $1,000 less per month.

While the news was not as good for Joseph Keller of Port Chester, he is relieved to have a determination. Keller was denied a loan modification, but has now started the appeal process. “At least now I know what direction to head in and am moving on to the next step in the process. Also, having the Housing Action Council to advocate for me has been a tremendous help,” stated Keller.

“We have positioned people for an outcome – one way or another,” stated Roberts. “Now, as we await the answers from Bank of America’s June event, we hope to provide a loan modification opportunity for the next 100 families at the September event with Wells Fargo.”