The Morning Report
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Gabe del Rio says it’s time to make a plan.
The homeownership director for nonprofit housing advocate Community HousingWorks will discuss the fallout from risky home financing prevalent in the housing boom with the City/County Reinvestment Task Force at a meeting Thursday.
“We know it’s worse than it’s been before, and now we’ve got a new set of loan types to deal with,” del Rio said. “We can sit there and lament about how awful it is, or we can do something about it.”
Del Rio also represents a consortium of local housing concerns that have formed the Housing Opportunities Collaborative. He plans to ask the task force for help in organizing community leaders and training housing counselors to offer help for distressed homeowners.
The trouble in the subprime sector and increasing foreclosures, especially among minorities, are chief concerns for the task force, according to Jim Bliesner, who leads the group with San Diego Councilman Tony Young.
Last month’s meeting featured testimony from some mortgage professionals who deflected blame for the epidemic, while acknowledging lax accountability and ethics among some loan officers.
You can read the minutes from that meeting here.
Tomorrow’s meeting will be at noon at 202 C Street. I haven’t seen what room yet, but the last meeting was on the 12th floor.