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» VISIT US ONLINE @ DSNEWS.COM 93 1970s, it had attracted enough gang activity that gunfire was considered normal. By 2000, the federal government pledged $35 million in HOPE VI program dollars to redevelop High Point, demolishing all 716 units to rebuild to what it is today. High Point's residents include everyone from seniors living on Social Security to upper middle-class homeowners, with ap- proximately half of the 1,500 units devoted to low-income rates and half for rent or sale at standard market rates. With the experi- ment being labeled as a success, High Point Master Planner Brian Sullivan said their new development, Yesler Terrace, will reflect many of the same principals as High Point. "e new Yesler Terrace, which is being built under a HOPE VI successor program called Choice Neighborhoods, will be denser than High Point, include about 3,500 units of market-rate housing (compared to High Point's 800), and have 88,000 square feet of retail space and 900,000 square feet of office space when redevelopment is completed in about a decade," Seattle Magazine report said. Initially, the concern at High Point was whether the homes would keep their value, but according to Zillow data, High Point's home values have risen, with some homes priced at $575,000. "Instead of putting all the low-income people over there and all the people buying houses over here, we consciously mixed them up," Sullivan said to Seattle Magazine. "When you have people in different stages of their life and at different income levels living side by side, that helps toward a better understand- ing, rather than having this prejudice about low-income people." America, Ocwen Financial Corporation, Citi, and others. Additionally, the letter was sent to the Federal Housing Finance Agency, the Federal Housing Administration, Fannie Mae and Freddie Mac. Furthermore, Heller requested that future mortgage and loan payments be tailored to the victims, providing forbearance programs and loan modifications to ensure all families are cared for. "We ask that you streamline documentation requests and paperwork bur- dens for any impacted borrowers and dedicate additional staff to process any requests from victims and their families," Heller wrote. Upon request from DS News, Fannie Mae has issued the followed statement to the letter: "Our thoughts are with those affected by this heartbreaking tragedy. Mortgage assistance is available for families in need. We urge homeowners to contact their mortgage servicer, the company where you send your monthly mortgage payments, for information on mortgage-assistance options." Chase also responded to DS News: "Our thoughts are with the victims and their fami- lies. We work with our customers whenever they face difficult situations. We ask any customers affected by this tragedy that are in need of help to contact us on the Chase special care line: 1-888-356-0023." It is not unheard of for government-owned companies to provide relief to individuals experiencing inflated costs due to disaster-or tragedy-related events, as seen in events as recent as last month. Ginnie Mae provided expanded loan buyout authority, which included late fee waivers, loan modifica- tions, and foreclosure moratoriums for those affected by Hurricane Irma. GSEs Freddie Mac and Fannie Mae also issued a 90-day moratorium on foreclosure proceedings and eviction activities after the disaster. WASHINGTON HOPE Program: 10 Years Later e neighborhood of High Point, which lies on the southeast edge of West Seattle, looks to be a quaint, well-designed communi- ty, but 10 years ago, it was the product of the Clinton administration's HOPE IV program, aimed to remove the stigma associated with public housing projects. After the community's development in World War II, the neighborhood was converted into low-income housing. By the THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. is the year-over- year increase in home prices in Washington, the largest gain of all states. Source: CoreLogic's September 2017 Home Price Index STAT INSIGHT 12.5%

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