Title
Calling on Acting Sheriff Barbara Deeley to impose a stay on residential sheriff sales until homeowners have had the opportunity to apply for the federal Emergency Homeowner's Loan Program (EHLP).
Body
WHEREAS, On April 5, 2011 over 2,000 homeowners are scheduled to lose their homes at the first Sheriff sale since December, 2010, while they wait to apply for a federal program that was designed to preserve, protect, and defend their most basic necessity of a safe and affordable home; and
WHEREAS, Congress enacted the $1 billion Emergency Homeowner Loan Program (EHLP) to assist homeowners to prevent foreclosure which took effect October 1, 2010, granting Pennsylvania over $105 million to provide bridge loans to unemployed or injured homeowners, but that help has not yet arrived; and
WHEREAS, The $105 million allocated to Pennsylvania can help well over 2,000 homeowners who have had at least a 15% drop income through no fault of their own due to involuntary unemployment, underemployment caused by adverse economic conditions, or a medical emergency; and
WHEREAS, Over 450 homeowners have already been referred to the Pennsylvania Housing Finance Agency but have not been able to have their applications reviewed, through no fault of their own, because the federal government has only promulgated regulations but not finalized a contract with the Commonwealth; and
WHEREAS, Many of these homeowners would qualify for assistance from EHLP if they were given the chance to apply. The foreclosure could be avoided, the family home preserved, mortgage investors and banks would be paid all arrears and costs and ongoing payments for up to 24 months could be provided; and
WHEREAS, Congress specifically enacted this legislation to assist those who are suffering the most from this downturn, and the program must have all the funds obligated by September 30, 2011, leaving a short window for residents to receive assistance; and now therefore,
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That it hereby calls on Acting Sheriff Barbara Deeley to impose a stay on the residential sheriff sales until homeowners have had the opportunity to apply for the federal Emergency Homeowner's Loan Program (EHLP).
FURTHER RESOLVED, That a copy of this resolution be forwarded to Acting Sheriff Barbara Deeley as evidence of the grave concern that this legislative body has for its citizens facing homelessness as a result of foreclosure.
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