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Many Americans workers have lost and many more will loose their jobs, and thus many are at risk of foreclosure. Unfortunately, because they have no jobs, these unemployed workers cannot refinance their home, nor can they qualify for the federal refinancing and loan modification programs.
To help these unemployed workers avoid foreclosure, Neighborhood Housing Services of Silicon Valley (NHSSV) has established Porchlight Fund to provide them with short term low interest loan. We aim to help people who have a steady job for at least 5 years, lived in their homes for at least 4 years, have a prime home loan, and are in imminent danger of foreclosure.
We seek donations from the federal and local government, the corporations, and the community to build Porchlight Fund.
Help unemployed workers avoid foreclosure
Dear President Obama, Congress, Governors, and public officials
Our nation's unemployment continues to rise. Millions of Americans have lost and will loose their jobs. Blue-collar and white-collar workers, people with high school diplomas and those with college degrees, unskilled laborers and highly skilled professionals, no one is immune to layoffs.
With no job, no income and astronomically high health insurance cost, many of these unemployed workers cannot make their monthly mortgage payment putting their home at risk of foreclosure.<em> </em>Many of the unemployed workers have worked hard at their jobs for years and lived in their homes for years. They just need temporary financial help to meet their mortgage obligation, while they are looking for a job.
<b>We</b><b> must help the unemployed workers keep their homes</b>. Currently, these workers--the backbone of our country-- receive no help. With no job, they cannot refinance their home, nor can they qualify for the federal refinancing and loan modification programs. Without help, many of these unemployed workers will become homeless--families displaced from their homes and children displaced from their schools.
Neighborhood Housing Services of Silicon Valley (<b>NHSSV</b>), have established <b>Porchlight Fund </b>to help this specific category of homeowners avoid foreclosure. Porchlight Fund will provide them low interest loan for up to a year to keep their mortgage payment current. The people we seek to help would meet four criteria: (1) having a steady job for at least 5 years. (2) Living in their home for at least 4 years. (3) Having a prime home mortgage. (4) In imminent danger of foreclosure due to a loss job.
We aim to build Porchlight Fund with donations from the community, federal and local government, and corporate foundations.
Our vision is that when Porchlight Fund of NHSSV become successful, the movement will spread quickly throughout California and the US.
We need help in funding Porchlight Fund.
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