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Homeownership

    The Homeownership Counseling is free to home buyers (that are seeking a MSHDA loan) and includes
    information on:
  • mortgage loans
  • the closing process
  • budgeting and saving as a homeowner
  • recapture tax
  • avoiding predatory lending or foreclosure

    To participate in Homeownership Counseling:
  • Contact Larrine Reinhart at 248-2848 to schedule an appointment.
  • Complete the top half of this Lender Referral form.
  • Submit the form to your lender to authorize your lender to release:
  • the Good Faith Estimate
  • the Truth in Lending Statement
  • the Purchase Agreement
  • Ask your lender complete the bottom half and fax it with other documentation to Oakdale Neighbors
    at 452-1763 or to mail it to Oakdale Neighbors, 1260 Kalamazoo SE, Grand Rapids, MI 49507.

    You can search for other Homeownership Counseling providers in Kent County by clicking HERE.

    Homeownership Links:


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    Foreclosure

    The foreclosure crisis has hit the Oakdale neighborhood hard.  The Community Research Institute recently
    issued a report showing Oakdale with one of the highest foreclosure rates in the city: 16.2% of properties
    between 2004 and 2007. A foreclosure means that someone trying to buy a home has lost it. Foreclosures
    reduce property values and the tax base necessary for city and county services and programs, like fire,
    police, road repair and community health.  Foreclosed properties are often vacant for long periods of time.
    They deteriorate quickly, foster neighborhood blight, and promote crime.

    Oakdale Neighbors is partnering with Foreclosure Response so that neighbors can learn more about how
    foreclosures are effecting the neighborhood and what actions we can take. An article in the Grand Rapids
    Press describes this organizing and mobilization effort.

    Foreclosure Response is a coalition of more than 30 non-profits, lending institutions and governmental
    representatives working to reduce the number of foreclosures in Kent County and develop measurement
    tools to gauge the current and future impacts of foreclosure in Kent County. The coalition will provide
    services and self-help tools available to homeowners to prevent foreclosure and avoid predatory lenders
    and other scam artists.  These goals will be met by going door-to-door to provide educational materials for
    GR residents, launching a county-wide community education campaign and helping residents organize to
    advocate for housing policies and legislation that improve our financial stability and quality of life in Kent
    County.

    People who have missed even one mortgage payment should not wait to seek help -- those who
    act sooner rather than later have a much higher success rate.  Contact Home Repair Services, a
    non-profit organization, at 241-2601.  HRS housing specialists provide FREE assistance to help
    homeowners work with lenders for a positive outcome.  HRS also links homeowners with other
    organizations that can assist them.  

    For more information about Foreclosure Response or to get involved in this effort, contact Kym Spring at
    ForeclosureResponse@gmail.com or by phone, 401-0680.