Journal of the People’s Pastor

“Writing The History I’ve Lived, Living The History I Write!”


Rev. Daughtry convenes forums on Mortgage Foreclosure,
Predatory/Subprime Lending and Money Management

Picture Captions

Picture #1:

Mr. Frederick Aluede, Homeowner & his son, Rev. Herbert Daughtry, Chairman of the Downtown Brooklyn Neighborhood Alliance & Ms. Peggy Morrison, Executive Director of the Jamaica Housing Improvement Association

Picture #2:

Peggy Iman Washington, Committee Coordinator for Financial Literacy & Mr. Timothy Lucus, Homeowner

Rev. Herbert Daughtry Convenes Community Forums on
Mortgage Foreclosures, Predatory/Subprime Lending,
Debt Restructuring & Money Management

The persons in the pictures attended a community forum held at the Timbuktu Learning Center (TLC) on Mortgage Foreclosures, Predatory Lending, Subprime Lending and Money Management. These forums, designed to help families who are facing foreclosure save their homes, are being sponsored by the Downtown Brooklyn Neighborhood Alliance (DBNA) and the Alonzo Daughtry Family Life Services (ADFLS).

At the last two Thursday night Community Forums, the subject has been on Mortgage Foreclosure, Predatory and Subprime Lending and Money Management.

“The housing crises in our communities continue to create economic problems that are far reaching,” stated Rev. Daughtry. In 2007, statistics showed that over 2,700 Brooklyn homeowners who were refinanced by subprime lenders, over 1,500 of them are now faced with a form of foreclosure action and that of the 1,500 families 80% were non-white.

According to Rev. Daughtry, “This crisis has repercussions for communities as the change of ownership of property will result in a change of culture and complexion – in a word – regentrification is inevitable! In addition, the crisis has repercussion for family solidarity. Families, who have had properties for generations, are now threatened with loss. This will produce serious family disruption. Health is also threatened. In our last forum, Mr. Frederick Aluede, a homeowner who is being assisted by Ms. Peggy Morrison, Executive Director of the Jamaica Housing Improvement Association, related his experience. Because of deceptive paper work by the bank, which indicated that he earned 100% more than he had actually told them he earned, after the property was purchased, Mr. Aluede could not meet the mortgage payments which brought him to the brink of foreclosure. His 12 year old son shed tears daily as he witness his mother crying because of the possibility of them loosing their home. Fortunately, this family had some one to come to their assistance. There are innumerable persons who have no one to help them.

We have been organizing weekly forums to educate and assist people on how to get a stay on mortgage foreclosures, money management and debt restructuring. Committees have been formed in the following areas: Legal, Legislative, Education, Financial Literacy, Youth, Court Appearance, and Health & Social Services.
It is of paramount importance that people not only become educated in this matter; seek all the assistance they can, especially in the areas of budgeting and money management, but also, they must do something to act on their own behalf. Ms. Peggy Iman Washington, our committee coordinator on Financial Literacy, has been doing an outstanding job of assisting families in this regard. We believe we can make a difference, if we stand and fight together.”

Attend the next Community Forum which will be held on Thursday, January 24, 2007, 7pm at the House of the Lord Church. For further information contact Minister Omar Wilks at (718) 596-1991 or (718) 797-2104.