http://www.colbykluthe.com/ on behalf of http://www.justinepetersen.org/
Credit Builder Workshop @ Urban Cafe Studio
Host:
Justine Petersen
Thursday, November 5, 2009
7:00pm - 10:00pm
Location: 2815 North 14th Street
St. Louis, MO 63107
Description
Join the Justine Petersen Credit Club on NOV 5th @ Urban Cafe Studio (FREE WORKSHOP)No reservation required BUT encouraged
RSVP via Facebook or email @ kschell@justinepetersen.org
http://www.facebook.com/JustinePetersenORG
Monday, October 26, 2009
Wednesday, September 2, 2009
Credit report can‘t show half a mortgage
www.ColbyKluthe.com
Credit report can‘t show half a mortgage
http://www.experian.com/ask_max/max090109a.html?rss=1
Dear Experian,
My son in-law and I purchased a house together in only his and my name. Can I contact the credit bureaus and let them know that only 50 percent of that dollar amount is my responsibility? That way I would have a lower credit ratio.
- RAE
Dear RAE,
I am afraid you can‘t do that. When you sign a joint contract you aren‘t agreeing to pay half the amount. Instead, you are both agreeing to pay the full amount. By signing on the dotted line, you told the lender that if he doesn‘t pay the loan, you will – the full amount, not just half. There is no such thing as half a mortgage, because you can‘t own half a house.
The typical reason for you to share the loan obligation is that your son in-law very likely did not have a sufficient credit history or income to qualify for the loan by himself. The risk that he would not be able to repay the debt alone was too great for the lender to approve his application without the security of having you share responsibility.
You should never take signing your name on an account lightly, even when family members are involved. Whether is it for credit cards, apartment rent, phone service, or a house, it doesn‘t matter who actually uses the service. You have total responsibility for the entire amount.
Thanks for asking.
- The ”Ask Experian“ team
Credit report can‘t show half a mortgage
http://www.experian.com/ask_max/max090109a.html?rss=1
Dear Experian,
My son in-law and I purchased a house together in only his and my name. Can I contact the credit bureaus and let them know that only 50 percent of that dollar amount is my responsibility? That way I would have a lower credit ratio.
- RAE
Dear RAE,
I am afraid you can‘t do that. When you sign a joint contract you aren‘t agreeing to pay half the amount. Instead, you are both agreeing to pay the full amount. By signing on the dotted line, you told the lender that if he doesn‘t pay the loan, you will – the full amount, not just half. There is no such thing as half a mortgage, because you can‘t own half a house.
The typical reason for you to share the loan obligation is that your son in-law very likely did not have a sufficient credit history or income to qualify for the loan by himself. The risk that he would not be able to repay the debt alone was too great for the lender to approve his application without the security of having you share responsibility.
You should never take signing your name on an account lightly, even when family members are involved. Whether is it for credit cards, apartment rent, phone service, or a house, it doesn‘t matter who actually uses the service. You have total responsibility for the entire amount.
Thanks for asking.
- The ”Ask Experian“ team
Tuesday, May 26, 2009
Balances on business credit cards could impact your personal credit report
Balances on business credit cards could impact your personal credit report
Dear Max,
Do balances on my business credit cards affect my personal credit scores?
- SCO
Dear SCO,
Balances on business credit cards could affect your credit scores if your name is on the card instead of the name of your business.
If the account is in your name and you are responsible for payment, then it very likely will appear in your personal credit report. If so, the history of the account, including any payment problems, would be included in any credit score calculation Even though your business may ultimately reimburse you for the charges, you are still personally responsible for making the payments and for making them on time.
However, if the account is only issued to the business and they make the payments, there is a good chance that is would appear only on the business credit report. In that case, it would have no impact at all on your personal credit scores.
The best way to find out is to get a copy of your credit report. If you find it on your personal report, it will affect your personal scores. If it’s not there, you don’t have to worry about it.
Thanks for asking.
Maxine Sweet, VP Consumer Affairs, www.Experian.com
Dear Max,
Do balances on my business credit cards affect my personal credit scores?
- SCO
Dear SCO,
Balances on business credit cards could affect your credit scores if your name is on the card instead of the name of your business.
If the account is in your name and you are responsible for payment, then it very likely will appear in your personal credit report. If so, the history of the account, including any payment problems, would be included in any credit score calculation Even though your business may ultimately reimburse you for the charges, you are still personally responsible for making the payments and for making them on time.
However, if the account is only issued to the business and they make the payments, there is a good chance that is would appear only on the business credit report. In that case, it would have no impact at all on your personal credit scores.
The best way to find out is to get a copy of your credit report. If you find it on your personal report, it will affect your personal scores. If it’s not there, you don’t have to worry about it.
Thanks for asking.
Maxine Sweet, VP Consumer Affairs, www.Experian.com
Wednesday, April 22, 2009
Credit Builder Workshop- RSVP today!
YOU ARE INVITED TO JOIN US!
justinePETERSEN & justBIZ are offering aFREE “Credit Builder Tune Up” WorkshopThe workshop includes a 45 minute workshop on how to build credit, a credit report, and a one-on-one session with our credit educators.
rsvp- ckluthe@justinepetersen.org
When: Monday, APRIL 27th from 3pm-5pmWhere: justBIZ @Emerson Park Metrolink
15th Street & Bowman AveEast St. Louis, IL 62205
Justine Petersen
Wednesday, April 8, 2009
Law does not require lenders to report payment history
Law does not require lenders to report payment history
Dear Max,
I was told by a bank that the law requires merchants and lenders to report data related to my credit. Can you point me to where I can find this legal information?
- LUK
Dear LUK,
The person you talked to at the bank was incorrect. Merchants and lenders are not required to report information about the accounts you have with them. Reporting information is strictly voluntary.
Companies choose to report because they are reliant on information from other companies to help them make sound decisions. They recognize that it is only fair for them to share the information if they are going to receive it. Voluntary sharing of information has been the basis for credit reporting since its earliest days, when local merchants shared their lending experiences verbally with neighboring stores.
However, the law does mandate what a business must do if it chooses to report information.
The Fair Credit Reporting Act (FCRA) defines what a business’s responsibilities are if it decides to report information to a credit reporting company, like Experian. Those responsibilities include not knowingly reporting inaccurate information, updating payment information regularly and responding to disputes about the accuracy of any information within a specified period of time, among others.
The Federal Trade Commission provides a thorough description of the FCRA requirement for reporting information on its web site.
Thanks for asking.
Maxine Sweet , VP consumer affairs
www.Experian.com
Dear Max,
I was told by a bank that the law requires merchants and lenders to report data related to my credit. Can you point me to where I can find this legal information?
- LUK
Dear LUK,
The person you talked to at the bank was incorrect. Merchants and lenders are not required to report information about the accounts you have with them. Reporting information is strictly voluntary.
Companies choose to report because they are reliant on information from other companies to help them make sound decisions. They recognize that it is only fair for them to share the information if they are going to receive it. Voluntary sharing of information has been the basis for credit reporting since its earliest days, when local merchants shared their lending experiences verbally with neighboring stores.
However, the law does mandate what a business must do if it chooses to report information.
The Fair Credit Reporting Act (FCRA) defines what a business’s responsibilities are if it decides to report information to a credit reporting company, like Experian. Those responsibilities include not knowingly reporting inaccurate information, updating payment information regularly and responding to disputes about the accuracy of any information within a specified period of time, among others.
The Federal Trade Commission provides a thorough description of the FCRA requirement for reporting information on its web site.
Thanks for asking.
Maxine Sweet , VP consumer affairs
www.Experian.com
Friday, April 3, 2009
Downtown population grows by 6% during 2008
www.colbykluthe.com
Downtown population grows by 6% during 2008
A new report by the Partnership for Downtown St. Louis shows that demand for downtown living remains strong. At the end of 2008, the downtown residential population grew to 11,800, an increase of 6% over the 2007 figure.
Growth in the metro area averaged 0.4 %. Despite national economic and housing woes that restricted new residential development and limited mortgage financing for condominiums, people continued the decade long move back to the city's urban core. Since the year 2000, almost 5000 people have moved into downtown St. Louis.
Each year, the Partnership surveys the downtown real estate community to develop an informal but comprehensive "census" of occupancy for both for-sale and rental projects.
One of the most telling trends from the Partnership's latest annual Housing Report was the conversion of recently constructed or planned condominium developments to apartments. As a result, the Partnership noted a significant reduction in inventory of new condominium offerings that reduced a potential oversupply while adding to the inventory of apartments. And, despite the addition of 400 apartments in 2008, rental occupancy rates for apartments open a full year increased from 88% to 90%
The almost 12,000 downtown residents were attracted to new retail and restaurant offerings including over 100 shops, cafes and services added sine 2004. Among the latest features cited as making downtown more livable are fitness centers, an animal hospital, an urgent care center, and added open spaces areas such as Old Post Office Plaza and CityGarden - both under construction and set to open shortly. Also under construction is a Schnuck's market, bringing downtowners a full service grocery store.
The Downtown St. Louis Housing Report projects 225 new residential units will open in 2009 and 500 units will open in 2010. The complete report is available by visiting www.DowntownSTL.org .
Downtown population grows by 6% during 2008
A new report by the Partnership for Downtown St. Louis shows that demand for downtown living remains strong. At the end of 2008, the downtown residential population grew to 11,800, an increase of 6% over the 2007 figure.
Growth in the metro area averaged 0.4 %. Despite national economic and housing woes that restricted new residential development and limited mortgage financing for condominiums, people continued the decade long move back to the city's urban core. Since the year 2000, almost 5000 people have moved into downtown St. Louis.
Each year, the Partnership surveys the downtown real estate community to develop an informal but comprehensive "census" of occupancy for both for-sale and rental projects.
One of the most telling trends from the Partnership's latest annual Housing Report was the conversion of recently constructed or planned condominium developments to apartments. As a result, the Partnership noted a significant reduction in inventory of new condominium offerings that reduced a potential oversupply while adding to the inventory of apartments. And, despite the addition of 400 apartments in 2008, rental occupancy rates for apartments open a full year increased from 88% to 90%
The almost 12,000 downtown residents were attracted to new retail and restaurant offerings including over 100 shops, cafes and services added sine 2004. Among the latest features cited as making downtown more livable are fitness centers, an animal hospital, an urgent care center, and added open spaces areas such as Old Post Office Plaza and CityGarden - both under construction and set to open shortly. Also under construction is a Schnuck's market, bringing downtowners a full service grocery store.
The Downtown St. Louis Housing Report projects 225 new residential units will open in 2009 and 500 units will open in 2010. The complete report is available by visiting www.DowntownSTL.org .
Saturday, March 7, 2009
Credit cards with low limits still can build strong credit
Credit cards with low limits still can build strong credit (www.Experian.com/askmax)
Dear Max,
Do small available balance credit cards, such as retail cards or gas cards with say $300 available balance, help or hurt credit scores, even if no balance is owed?
- IND
Dear IND,
Even accounts with small balances can help. The issue isn’t how much credit you have available, but rather how you manage the credit you have at your disposal.
You do need to be aware that some gas cards are charge cards, meaning you are required to pay the balance in full each month. Such accounts won’t hurt your credit history if they are paid on time, but they likely won’t be as positive as credit cards that are paid on time with low balances.
Credit cards allow you to revolve a balance, or carry a balance from one month to the next. Because you control how much you pay and whether or not you charge to the limit d, credit cards demonstrate even more clearly that you can responsibly manage credit. By charging a small amount on at least one card and paying the balance on time, you will show that you can handle larger amounts of available credit. Eventually you very likely will be offered accounts with larger balances.
In fact, one of the best ways to build a strong credit history is to start small and build up. That doesn’t mean you should go out and apply for a bunch of retail credit cards or gas cards. You only need a few accounts reported to the credit reporting companies.
As the positive history on those accounts grows, your creditworthiness will grow with it.
Thanks for asking.
~Maxine Sweet, VP Consumer Affairs, EXPERIAN
Dear Max,
Do small available balance credit cards, such as retail cards or gas cards with say $300 available balance, help or hurt credit scores, even if no balance is owed?
- IND
Dear IND,
Even accounts with small balances can help. The issue isn’t how much credit you have available, but rather how you manage the credit you have at your disposal.
You do need to be aware that some gas cards are charge cards, meaning you are required to pay the balance in full each month. Such accounts won’t hurt your credit history if they are paid on time, but they likely won’t be as positive as credit cards that are paid on time with low balances.
Credit cards allow you to revolve a balance, or carry a balance from one month to the next. Because you control how much you pay and whether or not you charge to the limit d, credit cards demonstrate even more clearly that you can responsibly manage credit. By charging a small amount on at least one card and paying the balance on time, you will show that you can handle larger amounts of available credit. Eventually you very likely will be offered accounts with larger balances.
In fact, one of the best ways to build a strong credit history is to start small and build up. That doesn’t mean you should go out and apply for a bunch of retail credit cards or gas cards. You only need a few accounts reported to the credit reporting companies.
As the positive history on those accounts grows, your creditworthiness will grow with it.
Thanks for asking.
~Maxine Sweet, VP Consumer Affairs, EXPERIAN
Thursday, March 5, 2009
Taking control of your credit score
http://hereandthere.freedomblogging.com/2009/02/14/taking-control-of-your-credit-score/755/
Taking control of your credit score
February 14th, 2009, 1:48 pm · 1 Comment · posted by lgriffith
During a recent first-time homebuyer counseling session, a Justine Petersen representative told me how I can keep my credit score high (or for those with a lower score, how to raise it).
I thought the information to be relevant in regards to just about everyone - not just first-time homebuyers trying to fulfill a grant requirement, so I decided I should share that information with readers.
Here’s what I learned:
Imagine that a credit card with a limit of $10,000 actually has a limit of $5,000. Do not charge more than 50% of your limit to be safe.
Pay the minimum amount each month unless you need to bring your debt down to a manageable amount (then pay a significant amount more, not a few dollars more). Having a low balance is good.
Avoid having $0 balances on credit cards longer than 6-9 months. After that period of time passes and there has been no action on your card, the creditor no longer has to report on you.
Don’t cancel old cards if they have no annual fee and aren’t hurting you. You don’t want to lose that credit history, so you can instead charge a meal or a pair of socks on that card, let it cycle through, and maintain that credit. Cards that you’ve had more than a year are considered “established credit.” Cards that you’ve had for three years or more are even better.
On the other hand, don’t keep balances on so many credit cards that you can’t keep track of them.
Payments later than 30 days past due can drop your score 100 points in one fell swoop.
If a creditor calls and asks whether you want to raise your limit, say YES. But keep in mind, you only want to say yes for the credit increase to bring up your score, not for the actual ability to charge more. That can get you in trouble.
thecredittruth.org also had some interesting advice and information on credit scores:
What’s good and what’s bad?
750-850 Excellent - you’ll get any loan with the very best terms
700-749 Very good - you qualify for highly competitive interest rates
650-699 Good credit
600-650 Fair
550-600 Poor
Also from thecredittruth.org:
Fast facts on American credit habits
The average American has 13 credit accounts - 9 cards and 4 installment loans
Less than half of all consumers have ever been 30 or more days late on a payment
3 out of 10 have ever been 60 or more days late
Under 20% have ever had a loan or account closed by the lender due to default
40% of people carry a credit card balance under $1,000
15% have balances above $10,000
Almost 37% carry more than $10,000 of non-mortgage-related debt
The typical consumer has a combined credit limit of $19,000
1 in 7 are using 80% or more of their limit
Visit the site for more information about credit scores.
Taking control of your credit score
February 14th, 2009, 1:48 pm · 1 Comment · posted by lgriffith
During a recent first-time homebuyer counseling session, a Justine Petersen representative told me how I can keep my credit score high (or for those with a lower score, how to raise it).
I thought the information to be relevant in regards to just about everyone - not just first-time homebuyers trying to fulfill a grant requirement, so I decided I should share that information with readers.
Here’s what I learned:
Imagine that a credit card with a limit of $10,000 actually has a limit of $5,000. Do not charge more than 50% of your limit to be safe.
Pay the minimum amount each month unless you need to bring your debt down to a manageable amount (then pay a significant amount more, not a few dollars more). Having a low balance is good.
Avoid having $0 balances on credit cards longer than 6-9 months. After that period of time passes and there has been no action on your card, the creditor no longer has to report on you.
Don’t cancel old cards if they have no annual fee and aren’t hurting you. You don’t want to lose that credit history, so you can instead charge a meal or a pair of socks on that card, let it cycle through, and maintain that credit. Cards that you’ve had more than a year are considered “established credit.” Cards that you’ve had for three years or more are even better.
On the other hand, don’t keep balances on so many credit cards that you can’t keep track of them.
Payments later than 30 days past due can drop your score 100 points in one fell swoop.
If a creditor calls and asks whether you want to raise your limit, say YES. But keep in mind, you only want to say yes for the credit increase to bring up your score, not for the actual ability to charge more. That can get you in trouble.
thecredittruth.org also had some interesting advice and information on credit scores:
What’s good and what’s bad?
750-850 Excellent - you’ll get any loan with the very best terms
700-749 Very good - you qualify for highly competitive interest rates
650-699 Good credit
600-650 Fair
550-600 Poor
Also from thecredittruth.org:
Fast facts on American credit habits
The average American has 13 credit accounts - 9 cards and 4 installment loans
Less than half of all consumers have ever been 30 or more days late on a payment
3 out of 10 have ever been 60 or more days late
Under 20% have ever had a loan or account closed by the lender due to default
40% of people carry a credit card balance under $1,000
15% have balances above $10,000
Almost 37% carry more than $10,000 of non-mortgage-related debt
The typical consumer has a combined credit limit of $19,000
1 in 7 are using 80% or more of their limit
Visit the site for more information about credit scores.
justinePETERSEN Responds to Economic Downturn
http://www.justinepetersen.org/
Justine Petersen Responds to Economic Downturn
Justine Petersen is experiencing a significant increase in the demand for its services as a result of the sharp economic downturn and housing crisis. At Justine Petersen, we have a proven track record of helping individuals who are unable to secure conventional financing to buy homes and start small businesses; a position of more and more Americans.
With the increase in unemployment, many are turning toward entrepreneurship to take matters into their own hands and create jobs for themselves and others affected by the economic downturn. Read this story about Justine Petersen client Chris Surgener that ran on the front page of the St. Louis Post Dispatch on Sunday March 1.
Justine Petersen in 2008 distributed $1.8 million in microloans to help 295 entrepreneurs start small businesses in the St. Louis Metropolitan area. This is a powerful counter to the headlines about the economic crisis - and its happening right here in our neighborhoods.
Justine Petersen is actively helping area families purchase homes with safe and affordable financing, and educating them on how to use credit wisely. Even in the midst of the economic downturn, Justine Petersen is at the forefront of innovative solutions to continue to get families into homes. When families have nowhere else to turn for financing, Justine Petersen is there with real solutions. Read about Laurie Griffith's experience with Justine Petersen's homebuyer seminar.
Justine Petersen last year helped 224 families purchase homes in the St. Louis Metropolitan area.
How can you get involved? NOW, more than ever, Justine Petersen needs you to be a part of the solution for St. Louis communities to today's economic crisis. Volunteer to assist with credit and financial education classes. Donate to Justine Petersen's entrepreneurial training or loan fund. Thinking of refinancing? Justine Petersen offers a Home-to-Home Mortgage product where the revenue generated from Home-to-Home Mortgages supports homebuyer education. We need you to be part of the solution.
To Learn More About Justine Petersen, visit our webpage.
http://www.justinepetersen.org/
justinePETERSEN (central offices)
1023 N. Grand Ave
St. Louis, MO 63106
314-664-5051
justBIZ (Illinois Location)
@ Emerson Park Metro Station
908 N 11th Street
East St. Louis, IL 62201
618-482-4557 or 314-565-2000
Justine Petersen Responds to Economic Downturn
Justine Petersen is experiencing a significant increase in the demand for its services as a result of the sharp economic downturn and housing crisis. At Justine Petersen, we have a proven track record of helping individuals who are unable to secure conventional financing to buy homes and start small businesses; a position of more and more Americans.
With the increase in unemployment, many are turning toward entrepreneurship to take matters into their own hands and create jobs for themselves and others affected by the economic downturn. Read this story about Justine Petersen client Chris Surgener that ran on the front page of the St. Louis Post Dispatch on Sunday March 1.
Justine Petersen in 2008 distributed $1.8 million in microloans to help 295 entrepreneurs start small businesses in the St. Louis Metropolitan area. This is a powerful counter to the headlines about the economic crisis - and its happening right here in our neighborhoods.
Justine Petersen is actively helping area families purchase homes with safe and affordable financing, and educating them on how to use credit wisely. Even in the midst of the economic downturn, Justine Petersen is at the forefront of innovative solutions to continue to get families into homes. When families have nowhere else to turn for financing, Justine Petersen is there with real solutions. Read about Laurie Griffith's experience with Justine Petersen's homebuyer seminar.
Justine Petersen last year helped 224 families purchase homes in the St. Louis Metropolitan area.
How can you get involved? NOW, more than ever, Justine Petersen needs you to be a part of the solution for St. Louis communities to today's economic crisis. Volunteer to assist with credit and financial education classes. Donate to Justine Petersen's entrepreneurial training or loan fund. Thinking of refinancing? Justine Petersen offers a Home-to-Home Mortgage product where the revenue generated from Home-to-Home Mortgages supports homebuyer education. We need you to be part of the solution.
To Learn More About Justine Petersen, visit our webpage.
http://www.justinepetersen.org/
justinePETERSEN (central offices)
1023 N. Grand Ave
St. Louis, MO 63106
314-664-5051
justBIZ (Illinois Location)
@ Emerson Park Metro Station
908 N 11th Street
East St. Louis, IL 62201
618-482-4557 or 314-565-2000
Wednesday, February 25, 2009
Fair Housing and GLBT Inclusiveness Training
www.ColbyKluthe.com
You are invited to a free Fair Housing and GLBT Inclusiveness Training for Senior Housing Providers
Are you an inclusive community?
Do your advertisements show models that represent the diversity of our metropolitan area?
Do you ask questions about a person's disability or require a medical evaluation as part of their housing application?
Does your advertising reflect a preference for people of a particular religion?
Do you provide an inclusive community for gay, lesbian, bisexual and transgender elders?
The Fair Housing Act covers senior housing providers, including CCRCs, "independent living" senior communities, assisted living facilities, residential care facilities and skilled nursing facilities and prohibits discrimination based on race, color, religion, gender, national origin, familial status (exemption for qualified senior housing providers) and disability. Additional state and local laws may prohibit discrimination on the basis of sexual orientation.
Come and learn about your responsibilities under our fair housing laws and join in a discussion about how to create an inclusive community.
Senior Housing Providers Face Liabilities under Fair Housing Act
Baltimore Neighborhoods Inc. v. Peninsula United Methodist Homes, Inc.: Peninsula United Methodist Homes owns and operates retirement communities in Maryland and Delaware. The suit challenged the exclusive and extensive use of white human models in advertising. In settling the suit, Peninsula United Methodist Home agreed to spend $20,000 for affirmative recruitment of black residents for retirement communities it operates. It has also agreed to waive a total of $78,000 in entry fees for new black residents and to assure that at least one in four human models in real estate ads are black. Peninsula also paid damages to BNI Inc.
United States v. Resurrection Retirement Community, Inc.: The Justice Department brought a "pattern or practice" complaint against a 500-unit retirement community, alleging that the defendant's FHA violations included discouraging prospective residents who used wheelchairs and requiring applicants to submit to medical assessments conducted by the defendant's employees as a condition of residency. The case is significant not only because it demonstrates the ongoing resistance of senior housing providers-including large, market-rate retirement communities-to abandoning their "independent living" requirements, but also as a demonstration of the federal government's commitment to challenging such requirements as part of its FHA enforcement responsibilities. The Resurrection case ultimately resulted in a consent decree under which the defendant, in addition to paying $220,000 in monetary damages and penalties, agreed to rescind its "independent living" and medical-exam policies.
Armstrong v. Senior Citizens Housing of Ann Arbor, Inc.: A retirement complex's rejection of applicant based on her inability to satisfy the complex's "live independently" requirement was held to violate state law's prohibition of disability discrimination in housing.
United States v. Covenant Retirement Community (E.D. Cal.)
The Department of Justice alleged that Chicago-based Covenant Retirement Communities, Inc., and its subsidiaries violated the Fair Housing Act by employing policies that: required residents of retirement communities who used motorized mobility aids to obtain personal liability insurance, demonstrate their competence at operating the motorized aid, and provide physician's certifications of need; they barred residents and visitors from using mobility aids in certain common areas, including dining rooms; and steered persons with mobility impairments from independent living to assisted living. A 2007 consent order required Covenant to allow residents and guests to use their mobility aids throughout the complexes without conditions. The Defendants will also establish a $530,000 settlement fund for persons who may have been injured by their policies, pay residents who were tested $250 (and such additional damages as they may have suffered), and pay a $30,000 civil penalty. The consent order also calls for employee training, a nondiscrimination policy, record keeping, and monitoring. The consent order remains in effect for three years.
United States v. Reeves & Red Oaks Assisted Living, Inc.: The complaint, filed on June 6, 2005, alleged that Defendants Susan Reeves, Richard Reeves, and Red Oaks Assisted Living, Inc. discriminated against the complainant because she was HIV positive. On June 9, 2005, the court entered a consent decree which requires the defendants to pay $3,500 to the complainant, and follow requirements for record-keeping and training.
Time/Date:
1 - 4 PM,
Feb. 25, 2009
Place:
Tower Grove Manor 2710 South Grand Blvd.
St. Louis, MO 63118
Register Now!
Click to send an email. Please include your name (as you would like it to appear on a certificate), job title, company / agency, and contact information.
You are invited to a free Fair Housing and GLBT Inclusiveness Training for Senior Housing Providers
Are you an inclusive community?
Do your advertisements show models that represent the diversity of our metropolitan area?
Do you ask questions about a person's disability or require a medical evaluation as part of their housing application?
Does your advertising reflect a preference for people of a particular religion?
Do you provide an inclusive community for gay, lesbian, bisexual and transgender elders?
The Fair Housing Act covers senior housing providers, including CCRCs, "independent living" senior communities, assisted living facilities, residential care facilities and skilled nursing facilities and prohibits discrimination based on race, color, religion, gender, national origin, familial status (exemption for qualified senior housing providers) and disability. Additional state and local laws may prohibit discrimination on the basis of sexual orientation.
Come and learn about your responsibilities under our fair housing laws and join in a discussion about how to create an inclusive community.
Senior Housing Providers Face Liabilities under Fair Housing Act
Baltimore Neighborhoods Inc. v. Peninsula United Methodist Homes, Inc.: Peninsula United Methodist Homes owns and operates retirement communities in Maryland and Delaware. The suit challenged the exclusive and extensive use of white human models in advertising. In settling the suit, Peninsula United Methodist Home agreed to spend $20,000 for affirmative recruitment of black residents for retirement communities it operates. It has also agreed to waive a total of $78,000 in entry fees for new black residents and to assure that at least one in four human models in real estate ads are black. Peninsula also paid damages to BNI Inc.
United States v. Resurrection Retirement Community, Inc.: The Justice Department brought a "pattern or practice" complaint against a 500-unit retirement community, alleging that the defendant's FHA violations included discouraging prospective residents who used wheelchairs and requiring applicants to submit to medical assessments conducted by the defendant's employees as a condition of residency. The case is significant not only because it demonstrates the ongoing resistance of senior housing providers-including large, market-rate retirement communities-to abandoning their "independent living" requirements, but also as a demonstration of the federal government's commitment to challenging such requirements as part of its FHA enforcement responsibilities. The Resurrection case ultimately resulted in a consent decree under which the defendant, in addition to paying $220,000 in monetary damages and penalties, agreed to rescind its "independent living" and medical-exam policies.
Armstrong v. Senior Citizens Housing of Ann Arbor, Inc.: A retirement complex's rejection of applicant based on her inability to satisfy the complex's "live independently" requirement was held to violate state law's prohibition of disability discrimination in housing.
United States v. Covenant Retirement Community (E.D. Cal.)
The Department of Justice alleged that Chicago-based Covenant Retirement Communities, Inc., and its subsidiaries violated the Fair Housing Act by employing policies that: required residents of retirement communities who used motorized mobility aids to obtain personal liability insurance, demonstrate their competence at operating the motorized aid, and provide physician's certifications of need; they barred residents and visitors from using mobility aids in certain common areas, including dining rooms; and steered persons with mobility impairments from independent living to assisted living. A 2007 consent order required Covenant to allow residents and guests to use their mobility aids throughout the complexes without conditions. The Defendants will also establish a $530,000 settlement fund for persons who may have been injured by their policies, pay residents who were tested $250 (and such additional damages as they may have suffered), and pay a $30,000 civil penalty. The consent order also calls for employee training, a nondiscrimination policy, record keeping, and monitoring. The consent order remains in effect for three years.
United States v. Reeves & Red Oaks Assisted Living, Inc.: The complaint, filed on June 6, 2005, alleged that Defendants Susan Reeves, Richard Reeves, and Red Oaks Assisted Living, Inc. discriminated against the complainant because she was HIV positive. On June 9, 2005, the court entered a consent decree which requires the defendants to pay $3,500 to the complainant, and follow requirements for record-keeping and training.
Time/Date:
1 - 4 PM,
Feb. 25, 2009
Place:
Tower Grove Manor 2710 South Grand Blvd.
St. Louis, MO 63118
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Monday, February 23, 2009
Payday loans turn customers red
www.justinePETERSEN.orgCenter for Responsible Lending NewsBrief
CRL refutes absurd claim that 400 percent interest payday loans prevent overdraft bank fees
A loan that is designed to trap borrowers in debt for weeks, months, even years on end cannot possibly keep families afloat as they work to pay their bills and keep their finances in order.
But the payday industry continues to insist that it does just that, as justification for the 400 percent annual interest rates they have managed to keep legal in a shrinking—but still large— number of states.
A new brief released by the Center for Responsible Lending explores this issue, revealing the argument for what it is, the industry's latest attempt to protect a predatory product that traps working people in 400 percent interest debt at a cost of over $4 billion per year.
Banks and credit unions charge working families billions of dollars every year in unfair overdraft fees. Payday lenders claim that their loans help prevent those fees, but the opposite is actually true.
Payday loans are more likely to cause additional overdraft fees, making it even more difficult for families who take out payday loans to recover from a financial shortfall.
Research from industry analyst Bretton Woods finds that contrary to industry claims, a recent report finds no evidence of increased overdraft and insufficient funds fees where payday loans are not available.
In fact, a Harvard Business School study found that payday lending actually increases the odds that households will repeatedly overdraft—and ultimately lose their checking accounts.
Learn more about payday lending.
A loan that is designed to trap borrowers in debt for weeks, months, even years on end cannot possibly keep families afloat as they work to pay their bills and keep their finances in order.
But the payday industry continues to insist that it does just that, as justification for the 400 percent annual interest rates they have managed to keep legal in a shrinking—but still large— number of states.
A new brief released by the Center for Responsible Lending explores this issue, revealing the argument for what it is, the industry's latest attempt to protect a predatory product that traps working people in 400 percent interest debt at a cost of over $4 billion per year.
Banks and credit unions charge working families billions of dollars every year in unfair overdraft fees. Payday lenders claim that their loans help prevent those fees, but the opposite is actually true.
Payday loans are more likely to cause additional overdraft fees, making it even more difficult for families who take out payday loans to recover from a financial shortfall.
Research from industry analyst Bretton Woods finds that contrary to industry claims, a recent report finds no evidence of increased overdraft and insufficient funds fees where payday loans are not available.
In fact, a Harvard Business School study found that payday lending actually increases the odds that households will repeatedly overdraft—and ultimately lose their checking accounts.
Learn more about payday lending.
Friday, February 20, 2009
justBIZ now accepting memberships!
IT’S COLD OUTSIDE… NEED A HOT SPOT??....
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EMERSON PARK METROLINK STATION
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OPENING THIS WEEK!!
EMERSON PARK METROLINK STATION
*Wireless Internet *Computer Rentals....
*Copy & Fax Services....
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Walk-Ins Welcome
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Become a justBIZ member Today!....
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Students & Seniors ONLY $10/Month....
Become a justBIZ member Today!....
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ckluthe@justinepetersen.org for more information.
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justBIZ is owned by justinePETERSEN, a local non-profit organization, offering services for Home Ownership and Small Business Owners. justBIZ operates as a non-profit social enterprise, supported by our members.....
Friday, February 13, 2009
JPMorgan, Banks to Halt Foreclosures for Three Weeks
Original link: http://www.bloomberg.com/apps/newspid=20601103&sid=aC7x_GWO2ic8&refer=us
JPMorgan, Banks to Halt Foreclosures for Three Weeks (Update2)
Email Print A A A
By Margaret Chadbourn
Feb. 13 (Bloomberg) -- Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. agreed to suspend foreclosures while the Obama administration crafts a housing plan to modify mortgages for troubled borrowers.
Citigroup halted foreclosures through March 12, or when a plan is completed, the company said today in a statement. Wells Fargo said its moratorium was in place until a plan is announced. The other lenders said foreclosures will be halted on owner- occupied homes until March 6. JPMorgan Chief Executive Officer Jamie Dimon disclosed his actions in a letter to House Financial Services Committee Chairman Barney Frank released today.
Frank asked chief executives of eight banks at a committee hearing Feb. 11 to freeze foreclosures until Treasury Secretary Timothy Geithner sets up a program. Citigroup’s Vikram Pandit committed to a halt. The Office of Thrift Supervision urged savings-and-loans to suspend foreclosures until a plan is ready.
“Three weeks is adequate time for the Treasury to announce -- and for us to implement -- a new plan,” Dimon wrote to Frank. “We stand ready to work with you to put the appropriate process in place, including a national modification standard.”
President Barack Obama will give details on his housing proposals next week during a two-day trip to Denver and Phoenix to talk about the next steps in his strategy to revive the U.S. economy, White House press secretary Robert Gibbs said today. The housing speech is scheduled Feb. 18, he said.
‘Necessary Steps’
JPMorgan, Citigroup, Bank of America, Morgan Stanley, Goldman Sachs Group Inc., Wells Fargo & Co., State Street Corp. and Bank of New York Mellon Corp. CEOs faced lawmakers this week over use of $165 billion in rescue funding, including bonuses and compensation. The banks got $125 billion from the Troubled Asset Relief Program in October, and Citigroup and Bank of America each got another $20 billion.
“Citi is taking the necessary steps to help American homeowners keep their homes,” according to the statement. The company said it worked with about 440,000 borrowers to stop foreclosures since the start of the housing crisis in 2007.
Morgan Stanley, based in New York, said its Saxon Mortgage Services Inc. handled billing and collections on $26.6 billion of loans as of Sept. 30, 2006, before the business was acquired, said spokeswoman Jennifer Sala. She declined to update the total.
Bank of America in Charlotte, North Carolina, would consider extending its moratorium beyond March 6 if Geither’s plan is still being developed, spokeswoman Jumana Bauwens said.
Wells Fargo, which acquired Wachovia Corp. last month, extended until the end of February a freeze on foreclosure for Wachovia’s loan holders, and will halt actions until a U.S. plan is released, said Kevin Waetke, a bank spokesman.
Redefaults
U.S. bank regulators in December said 55 percent of loans modified during the first quarter of 2008 were 30 or more days delinquent after six months. “Re-default rates increased each month and showed no signs of leveling off after six months,” Comptroller of the Currency John Dugan said in a statement.
U.S. foreclosures reached 274,399 in January, the 10th straight month in which more than a quarter-million filings were processed, RealtyTrac Inc., the Irvine, California-based provider of real estate data, said in a statement yesterday. Foreclosure filings soared to a record last year, surging 81 percent to 2.3 million, as home prices fell and mortgage standards tightened.
The Obama administration outlined a plan this week that would provide housing relief, help remove illiquid assets clogging banks’ balance sheets and spur lending. Geithner pledged to buy and modify troubled homeowner mortgages, and Senate Banking Committee Chairman Christopher Dodd said the aid could be as much as $100 billion.
To contact the reporter on this story: Margaret Chadbourn in Washington at mchadbourn@bloomberg.net.
Last Updated: February 13, 2009 14:44 EST
JPMorgan, Banks to Halt Foreclosures for Three Weeks (Update2)
Email Print A A A
By Margaret Chadbourn
Feb. 13 (Bloomberg) -- Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. agreed to suspend foreclosures while the Obama administration crafts a housing plan to modify mortgages for troubled borrowers.
Citigroup halted foreclosures through March 12, or when a plan is completed, the company said today in a statement. Wells Fargo said its moratorium was in place until a plan is announced. The other lenders said foreclosures will be halted on owner- occupied homes until March 6. JPMorgan Chief Executive Officer Jamie Dimon disclosed his actions in a letter to House Financial Services Committee Chairman Barney Frank released today.
Frank asked chief executives of eight banks at a committee hearing Feb. 11 to freeze foreclosures until Treasury Secretary Timothy Geithner sets up a program. Citigroup’s Vikram Pandit committed to a halt. The Office of Thrift Supervision urged savings-and-loans to suspend foreclosures until a plan is ready.
“Three weeks is adequate time for the Treasury to announce -- and for us to implement -- a new plan,” Dimon wrote to Frank. “We stand ready to work with you to put the appropriate process in place, including a national modification standard.”
President Barack Obama will give details on his housing proposals next week during a two-day trip to Denver and Phoenix to talk about the next steps in his strategy to revive the U.S. economy, White House press secretary Robert Gibbs said today. The housing speech is scheduled Feb. 18, he said.
‘Necessary Steps’
JPMorgan, Citigroup, Bank of America, Morgan Stanley, Goldman Sachs Group Inc., Wells Fargo & Co., State Street Corp. and Bank of New York Mellon Corp. CEOs faced lawmakers this week over use of $165 billion in rescue funding, including bonuses and compensation. The banks got $125 billion from the Troubled Asset Relief Program in October, and Citigroup and Bank of America each got another $20 billion.
“Citi is taking the necessary steps to help American homeowners keep their homes,” according to the statement. The company said it worked with about 440,000 borrowers to stop foreclosures since the start of the housing crisis in 2007.
Morgan Stanley, based in New York, said its Saxon Mortgage Services Inc. handled billing and collections on $26.6 billion of loans as of Sept. 30, 2006, before the business was acquired, said spokeswoman Jennifer Sala. She declined to update the total.
Bank of America in Charlotte, North Carolina, would consider extending its moratorium beyond March 6 if Geither’s plan is still being developed, spokeswoman Jumana Bauwens said.
Wells Fargo, which acquired Wachovia Corp. last month, extended until the end of February a freeze on foreclosure for Wachovia’s loan holders, and will halt actions until a U.S. plan is released, said Kevin Waetke, a bank spokesman.
Redefaults
U.S. bank regulators in December said 55 percent of loans modified during the first quarter of 2008 were 30 or more days delinquent after six months. “Re-default rates increased each month and showed no signs of leveling off after six months,” Comptroller of the Currency John Dugan said in a statement.
U.S. foreclosures reached 274,399 in January, the 10th straight month in which more than a quarter-million filings were processed, RealtyTrac Inc., the Irvine, California-based provider of real estate data, said in a statement yesterday. Foreclosure filings soared to a record last year, surging 81 percent to 2.3 million, as home prices fell and mortgage standards tightened.
The Obama administration outlined a plan this week that would provide housing relief, help remove illiquid assets clogging banks’ balance sheets and spur lending. Geithner pledged to buy and modify troubled homeowner mortgages, and Senate Banking Committee Chairman Christopher Dodd said the aid could be as much as $100 billion.
To contact the reporter on this story: Margaret Chadbourn in Washington at mchadbourn@bloomberg.net.
Last Updated: February 13, 2009 14:44 EST
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