FEMA Major Disaster Declaration – New York Severe Storm and Flooding

FEMA Alert
October 21, 2024  

FEMA has issued a Major Disaster Declaration for the state of New York to supplement state, tribal, and local recovery efforts in areas affected by a severe storm and flooding from August 18-19, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Lewis
  • Oswego
  • Suffolk

 

New York Severe Storm and Flooding (DR-4839-NY)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Major Disaster Declaration – North Carolina Potential Tropical Cyclone Eight

FEMA Alert
October 19, 2024  

***LAST UPDATE: 12/5/24***

FEMA has issued a Major Disaster Declaration for the state of North Carolina to supplement state, tribal, and local recovery efforts in areas affected by Potential Tropical Cyclone Eight from September 16-20, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Brunswick
  • Carteret
  • Dare
  • New Hanover
  • Onslow
  • Stokes

 

North Carolina Potential Tropical Cyclone Eight (DR-4837-NC)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for North Carolina

Map of Affected Area

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

St. Louis Hosts Conference on Vacant Properties, Showcases Local Efforts to Stabilize Buildings

One Community Update
October 9, 2024

Source: www.firstalert4.com

A national conference on vacant properties is converging in St. Louis this week, highlighting successful programs locally and in other U.S. cities.

The semi-annual conference, called “Reclaiming Vacant Properties,” is run by the Center for Community Progress, which works with organizations nationwide to address abandoned and deteriorated properties.

Thamarrah Jones, the organization’s director of conferences, said CCP chose St. Louis partly to highlight recent collaborative efforts between City departments and agencies, as well as local organizations that have worked to redevelop, stabilize, or demolish problem properties.

“With all of the challenges that have happened as it relates to vacancy in the city and county, we’ve wanted to partner with St. Louis for a long time,” Jones said.

One organization highlighting its work at the conference is the St. Louis Vacancy Collaborative, which has increasingly developed tools for tracking and mapping vacant properties in the city.

Torrey Park, the director of the Vacancy Collaborative, said such tools have helped to tie problem properties to negligent owners, some of whom own dozens of vacant properties in the area with a mounting pile of code violations and fines.

She said the success of the collaborative could be a useful example to other cities dealing with a high number of vacancies and lack of investment.

“They can learn a lot about how we’re being strategic to address the properties that need it most, Park said.

The conference itinerary also includes visits to successful redevelopment projects in the St. Louis area, such as the Delmar Divine.

 

For full report, please click the source link above.

Atlanta City Council Approves $1.4M to Redevelop Foreclosed Properties with Affordable Housing

One Community Update
October 11, 2024

Source: www.roughdraftatlanta.com

The Atlanta City Council voted this week to pay the Metro Atlanta Land Bank (MALB) $1.4 million to prepare foreclosed properties for redevelopment with an emphasis on preserving and constructing affordable housing.

The council approved the ordinance at its Oct. 7 meeting. The initiative is part of a broader effort to support Mayor Andre Dickens’ goal of creating or preserving 20,000 units of affordable housing by 2030.

The land bank was created for the purpose of “facilitating the return of dilapidated, abandoned, and tax delinquent properties to productive use,” according to the legislation.

Land banks also have the power to hold and dispose of real property and collaborate with municipalities and other public and private entities for the development of real property.

“The [Metro Atlanta] land bank is an organization that helps take blighted properties that are eyesores in our communities, that may pose safety issues for our neighbors … and clears the title and cleans them up and then gets those pieces of properties ready to rejoin the community,” said Councilmember Matt Westmoreland.

The city will pay MALB the $1.4 million from the new $8.5 million Gulch Housing Trust Fund approved by the council at the Oct. 7 meeting.

The Gulch Housing Trust Fund is a result of the agreement the city made with CIM Group years ago to transform the undeveloped Gulch into a 50-acre mixed-use development and entertainment district.

In exchange for CIM Group promising to fund and meet affordable housing goals as part of the estimated $5 billion project, the city pledged about $1.9 billion in public tax incentives.

 

For full report, please click the source link above.

JPMorganChase Funds Cohort Addressing Affordable Homeownership in Baltimore

One Community Update
October 9, 2024

Source: The Daily Record

JPMorganChase Wednesday announced that nine nonprofits will receive funding as part of a new cohort of leaders working to address housing vacancy across Baltimore.

The cohort aims to stabilize housing supply and create more affordable homeownership opportunities for Baltimore’s legacy residents by increasing organizational capacity, strengthening local partnerships and expanding acquisition and rehabilitation of vacant and abandoned homes.

JPMorganChase is working with the Urban Institute and the Center for Community Progress to support the cohort through peer exchange, capacity building and learning opportunities rooted in the city’s unique context.

By facilitating peer learning and sharing insights with the broader housing industry, the cohort builds on the firm’s strategy to support impact through insights, including convening the strength and expertise of housing organizations across the city.

The Baltimore Housing Innovation Cohort will work to reduce housing vacancy, grow organizational capacity and shift systems to enable housing revitalization at scale. The cohort will leverage the existing strengths and expertise of housing leaders across the city, allowing partners to learn and grow together in a shared commitment to advancing housing solutions. This strategy is guided by the firm’s localized approach to creating impact by supporting and convening local leaders who know their community best.

Participants in the Baltimore Housing Innovation Cohort include:

  • Black Women Build – Baltimore Inc. will rehabilitate vacant and deteriorated rowhomes in the Upton, Druid Heights, Penn North and Poppleton neighborhoods of Baltimore and provide skilled trades training, community- and wealth building opportunities. Participants in this program are then able to purchase the homes they help to build, increasing access to affordable, sustainable homeownership in Baltimore.
  • City Life-Community Builders Ltd. will rehabilitate homes, advance personal and professional skills development and build coalitions of committed stakeholders working to shift Baltimore’s systems to address housing vacancy at scale.
  • Druid Heights Community Development Corporation will implement the Bakers View Homeownership Development Project, a multiphase effort to produce affordable homeownership in one of Baltimore’s oldest communities. The Bakers View Homeownership Development Project is designed to further reduce density and crime, increase visit-ability, and make Druid Heights a sought-after community.
  • Greater Baybrook Alliance Inc. will build organizational capacity and systems – including the ability to leverage Baltimore’s property acquisition programs – to advance whole block redevelopment in the Brooklyn, Curtis Bay, and Brooklyn Park neighborhoods of Baltimore.
  • Green & Healthy Homes Initiative Inc. will advise cohort partners on healthy home interventions that can improve health, safety and energy efficiency outcomes, and will complete holistic housing interventions to help stabilize and preserve homeownership for seniors and family residents.
  • North East Housing Initiative Inc. will acquire, renovate and sell affordable homes in northeast Baltimore City to low-income households through a Community Land Trust model that maintains permanent affordability of the home and land.
  • National Community Stabilization Trust– Developing Affordable Starter Homes (DASH) Fund works to increase homeownership by expanding the supply of affordable, single-family homes to stabilize neighborhoods, build community wealth, and advance racial equity.   NCST continues to increase access to low-cost capital through the DASH Fund, a loan product available to emerging Baltimore housing developers that can be used for acquisition and development costs associated with revitalizing distressed and vacant single-family homes.
  • ReBuild Metro Inc. will advance its block-by-block redevelopment of abandoned homes in East Baltimore, increase affordable and mixed-income homebuying opportunities, and expand its legacy homeowner repair program, all as part of a replicable and community-driven “whole block” redevelopment model that ensures both new and legacy residents benefit from neighborhood revitalization.
  • Southwest Partnership Inc. will continue building organizational capacity to implement a Housing Plan focused on reducing vacancy and providing affordable housing options in three Baltimore neighborhoods – Mount Clare, Hollins Roundhouse, and Franklin Square neighborhoods.

JPMorganChase has served the Greater Baltimore community for more than 130 years. The firm has supported the placement of more than 12,000 local residents into apprenticeships, full-time, or part-time positions and the participation of more than 5,800 individuals in job training programs aligned with high-demand industries.

Since 2019 the firm has committed $16.7 million in philanthropic capital to the region where it serves as the bank of choice for more than 35,000 small business clients and 569,000 consumer banking customers.

 

For full report, please click the source link above.

FEMA Major Disaster Declaration – South Carolina Tropical Storm Debby

FEMA Alert
September 29, 2024  

***Last Update: 11/21/24***

FEMA has issued a Major Disaster Declaration for the state of South Carolina to supplement state, tribal, and local recovery efforts in areas affected by Tropical Storm Debby from August 4-22, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Bamberg
  • Barnwell
  • Beaufort
  • Berkeley
  • Colleton
  • Dillon
  • Dorchester
  • Florence
  • Georgetown
  • Hampton
  • Horry
  • Jasper
  • Orangeburg
  • Union

 

South Carolina Tropical Storm Debby (DR-4835-SC)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for South Carolina

Map of Affected Area

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Major Disaster Declaration – Alaska Flooding

FEMA Alert
October 16, 2024  

FEMA has issued a Major Disaster Declaration for the state of Alaska to supplement state, tribal, and local recovery efforts in areas affected by flooding from August 5-6, 2024.  The following counties have been approved for assistance:

Individual Assistance:

  • Juneau

Public Assistance:

  • Juneau

 

Alaska Flooding (DR-4836-AK)

Map of Affected Areas

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

CoreLogic Announces Araya, A Platform for Advanced Property, Portfolio, and Market Insights

Industry Update
October 8, 2024

Source: CoreLogic

CoreLogic®, a leader in global property information, analytics and data-enabled solutions, announced the launch of Araya™, a property and location intelligence platform built for the age of AI. Araya provides professionals across the property industry one-stop access to best-in-class, comprehensive property information and analytics that are critical to everyday decision making.  Built for more than 5 million property industry professionals including loan officers, appraisers, mortgage originators, servicers, insurance underwriters, developers, agents, brokers, real estate lawyers and housing regulators, Araya delivers CoreLogic’s high-quality data with AI-enabled analytics to fuel comprehensive property, market and portfolio insights through an easy-to-access platform.

Built upon an extensive database covering 99.9% of U.S. properties, Araya provides deep insights on individual properties, a broad understanding of the market and an analysis of the overall risk and opportunity in client portfolios. Solutions include Property Intelligence, Market Intelligence, Precision Marketing, Climate Risk Analytics and more, enabling users to quickly navigate dynamic housing conditions and make faster, more confident decisions. Araya facilitates day-to-day decision-making as well as long-term, strategic planning by integrating historical data with predictive models, providing comprehensive market trends and property specifics at your fingertips.

 

For full report, please click the source link above.

 

Top 10 U.S. States with the Greatest Number of Foreclosure Starts in September 2024

Industry Update
October 11, 2024

Source: ATTOM

According to ATTOM’s just released September and Q3 2024 U.S. Foreclosure Market Report, there were a total of 87,108 U.S. properties with foreclosure filings in Q3 2024.  This figure reflects a 2 percent decrease compared to the previous quarter and a 13 percent decrease compared to the same period last year.

ATTOM’s latest foreclosure market analysis reveals that 29,668 U.S. properties had foreclosure filings in September 2024, which is a 2 percent decrease from the previous month and a 19 percent decrease compared to the same period last year.

The report notes that in the third quarter of 2024, 62,380 U.S. properties entered the foreclosure process, reflecting a decline of less than 1 percent from the previous quarter and a 10 percent decrease compared to the same period last year.

The analysis also indicates that states with 1,000 or more foreclosure starts in the third quarter of 2024 that experienced the largest annual decreases were North Carolina (down 44 percent), Georgia (down 29 percent), Maryland (down 22 percent), New Jersey (down 20 percent), and South Carolina (down 19 percent).

ATTOM’s foreclosure report also noted that major metropolitan areas with populations of 200,000 or more that recorded the highest number of foreclosure starts in the third quarter of 2024 were New York, NY (3,776 starts); Chicago, IL (3,231 starts); Los Angeles, CA (2,166 starts); Miami, FL (2,142 starts); and Houston, TX (1,791 starts).

The report states that in September 2024, 19,763 U.S. properties began the foreclosure process, marking a 5 percent decrease from the previous month and a 21 percent decline compared to September 2023.

In this post, we dig a bit deeper to uncover the top 10 U.S. states with the greatest numbers of foreclosure starts in September 2024. Those states include: Florida (2,511 foreclosure starts); California (2,232 foreclosure starts); Texas (2,072 foreclosure starts); New York (1,110 foreclosure starts); Illinois (1,097 foreclosure starts); Ohio (912 foreclosure starts); Michigan (710 foreclosure starts); Georgia (667 foreclosure starts); New Jersey (619 foreclosure starts); and Indiana (548 foreclosure starts).

 

For full report, please click the source link above.

 

U.S. Foreclosure Activity Decreases in Q3 2024

Industry Update
October 9, 2024

Source: ATTOM

ATTOM, a leading curator of land, property data, and real estate analytics, today released its Q3 2024 U.S. Foreclosure Market Report, which shows a total of 87,108 U.S. properties with foreclosure filings during the third quarter of 2024, down 2 percent from the previous quarter and down 13 percent from a year ago.

The report also shows a total of 29,668 U.S. properties with foreclosure filings in September 2024, down 2 percent from the previous month and down 19 percent from a year ago.

“While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend,” said Rob Barber, CEO of ATTOM. “Moving forward, we anticipate foreclosure levels will stay relatively low, but there could be localized increases in areas struggling with affordability or other market pressures.”

Foreclosure starts decrease nationwide

A total of 62,380 U.S. properties started the foreclosure process in Q3 2024, down less than 1 percent from the previous quarter and down 10 percent from a year ago.

States that had 1,000 or more foreclosures starts in Q3 2024 and saw the greatest annual decrease included, North Carolina (down 44 percent); Georgia (down 29 percent); Maryland (down 22 percent); New Jersey (down 20 percent); and South Carolina (down 19 percent).

Those major metros with a population of 200,000 or more that had the greatest number of foreclosures starts in Q3 2024 included, New York, New York (3,776 foreclosure starts); Chicago, Illinois (3,231 foreclosure starts); Los Angeles, CA (2,166 foreclosure starts); Miami, FL (2,142 foreclosure starts); and Houston, Texas (1,791 foreclosure starts).

Highest foreclosure rates in Illinois, Nevada, and Florida

Nationwide one in every 1,618 housing units had a foreclosure filing in Q3 2024. States with the highest foreclosure rates were Illinois (one in every 904 housing units with a foreclosure filing); Nevada (one in every 922 housing units); Florida (one in every 971 housing units); Delaware (one in every 1,060 housing units); and South Carolina (one in every 1,069 housing units).

Among 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in Q3 2024 were Lakeland, Florida (one in 610 housing units); Provo, Utah (one in every 647 housing units); Macon, Georgia (one in every 649 housing units); Columbia, South Carolina (one in every 663 housing units); and Atlantic City, New Jersey (one in every 766 housing units).

Other major metros with a population of at least 1 million and foreclosure rates in the top 15 highest nationwide, include Chicago, Illinois (one in every 775 housing units); Las Vegas, Nevada (one in every 796 housing units); Cleveland, Ohio (one in every 819 housing units); Orlando, Florida (one in every 859 housing units); and Riverside, California (one in every 867 housing units).

 

For full report, please click the source link above.