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VISIT US ONLINE @ DSNEWS.COM to policymakers who are considering mort- gage-related issues. Breeland is a mortgage industry veteran of 33 years. He spent the last several years overseeing government affairs for a mortgage banker. Gordon's industry ex- perience includes serving as general counsel for the Coldwell Banker Residential Group, where he was involved in amending the Real Estate Settlement Procedures Act (RESPA). The pair's newly formed group combines grassroots networking and traditional lob- bying strategies to ensure clients' viewpoints are heard in Congress. "We intend to give our industry a clearer and louder voice at the policymaking table to achieve a balanced result to protect the consumer while preserving a functional marketplace," Gordon said. Breeland added that DC Solutions circumstances—job loss, healthcare crisis, and various recession-related issues—have seen their economic situations severely deteriorate," said Colleen Hernandez, CEO of HPF. "This could result in the proverbial 'second shoe to drop' for the housing crisis, especially considering the limited options available to homeowners who are struggling but not yet delinquent." Initiatives like the federal Home Affordable Refinance Program (HARP 2.0) allow homeowners with loans backed by Fannie Mae and Freddie Mac to refinance at a lower interest rate, but Hernandez says only 40 percent of callers appear to qualify. "This foreclosure crisis is far from over," Group is not seeking to compete with the existing trade organizations, but to strength- en their message. "We believe that the mortgage and real estate industry is well represented by its re- spective trade organizations. However, we're fighting a huge battle against a sea of new laws and regulations, much of it knee-jerk in nature. It's going to take a lot more engage- ment and constituent follow-up on the part of our industry to educate policymakers in Washington on the actual effects of their actions," Breeland said. Calls to Foreclosure Hotline Surge HOPE Hotline, which helps distressed homeowners navigate financial challenges, could signal a new wave of foreclosures, according to a report released by the Homeownership Preservation Foundation (HPF). The independent nonprofit operates the An increase in calls to the Homeowner's hotline, and it says calls from homeown- ers who are current on their mortgages are up 70 percent this year. Of those coun- seled, half stated "mounting instability" to continue making their mortgage payments could cause them to default. More than 75 percent had credit scores above the subprime threshold when they took out their loans. Since then, however, factors like reduced income and increased credit card spending have caused some borrowers' scores to drop. "We are seriously concerned about the rise in homeowners who were classified as low risk when they took out their mort- gages, and as a result of a combination of OVER $60 MILLION IN REO SALES ANNUALLY RESIDENTIAL & COMMERCIAL she warned. "As lenders are learning to com- ply with new service standards set in place by the national mortgage settlement and the Consumer Financial Protection Bureau (CFPB), make no mistake that notices of default are once again landing in mailboxes across the country at a rapid clip." KNOW THIS Washington, D.C., is ranked the nation's seventh best sellers' market by Zillow. Florida rank: 1 90+ Day 4.10% 4.21% -2.64% 90+ Day 5.01% year ago 5.20% percent point change -3.75% -6.84% Top Core-Based Statistical Area Foreclosure MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL 90+ Day Delinquency Rate june 2012 4.33% year ago 4.68% percent point change -7.51% -6.14% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. MEMBER 17.64% 16.56% Adriana M Aleman, MBA Florida Dreams Realty Group aaleman@floridadreamsrealty.com Cell 321 689 6258 www.floridadreamsrealty.com Rate 21.03% Florida Delinquency Rate Foreclosure Rate june 2012 13.48% year ago 13.90% percent point change -3.02% Top County MIAMI-DADE COUNTY Delinquency Rate june 2012 19.59% Foreclosure Rate Unemployment Rate 8.6% 10.7% -19.6% Marketing, Sales & Management Cash For Keys Utility Set-Up BPO's Evictions Same Day Occupancy Confirmation Experts In HOA Communications Loss Mitigation Property Preservations & More mcubelo-hinton@suncrestfl.com www.SunCrestFL.com 407. 876. 3615 Mary Cubelo-Hinton / Broker STAT INSIGHT 45.1% Florida who owe more on the mortgage than their home is now worth. Source: CoreLogic Percentage of borrowers in 111