Queens, New York – As the nation’s foreclosure crisis continues to affect thousands of families across the country, the National Coalition for Asian Pacific American Community Development (National CAPACD), a Washington, DC-based advocacy organization, is partnering with its local member organization in Queens, New York to provide an outcome-based solution for the foreclosure crisis in the region.

National CAPACD has partnered with Chhaya Community Development Corporation (Chhaya CDC), to host a Foreclosure Response Rescue Fair to assist limited English proficient Asian Americans living in the Queens area to better understand their options as homeowners facing foreclosure.

Bank of America, the primary supporter of this national initiative, launched the Alliance for Stabilizing our Communities in March 2008 in response to communities of color being left out of reach for the solutions to the foreclosure crisis. Together with other national minority-led and minority-serving entities such as the National Council of La Raza and the National Urban League, the Alliance for Stabilizing our Communities will have hosted 40 rescue fairs in 27 communities nationwide by the end of 2010.

The Foreclosure Response Rescue Fair will take place at York College in Jamaica, Queens on Saturday, August 7th from 10AM to 3PM. Jamaica, Queens is one of the hardest hit neighborhoods in New York City that has been affected by the foreclosure crisis. The Fair will be the first of its kind in the area to provide language access to homeowners in the Bangla, Urdu, Mandarin, Cantonese, Korean, and Spanish communities in Queens.

“It is well known that communities of color have been hardest hit by the ongoing crisis,” said Seema Agnani, Executive Director of Chhaya Community Development Corporation. “Our own research has indicated that in certain zip codes in the borough of Queens, over 50% of the homeowners in the pre-foreclosure stage were of South Asian descent.”

Attendees of the fair will have the opportunity to speak to their respective lenders who are at the event, as well as seek guidance from extremely knowledgeable housing counselors from HUD-approved housing counseling agencies. Attorneys will also be available to discuss with the attendees any legal issues they may have, such as loan modification scams.

The foreclosure crisis has resulted in the advent of a new genre of foreclosure rescue scams targeting the Asian American and Pacific Islander and other vulnerable communities.  National CAPACD will soon launch a national initiative to educate and outreach to the Asian American and Pacific Islander communities across the country about the dangers of loan rescue scams, thanks to a grant through the Neighborhood Reinvestment Corporation (dba NeighborWorks® America).

“National CAPACD is pleased to collaborate with our members and Alliance partners in such an important event. We believe that the Fair will provide an opportunity for the Asian communities of the New York City area to access culturally and linguistically appropriate information regarding foreclosure prevention and how to avoid scams,” said Lisa Hasegawa, Executive Director of National CAPACD.

In addition to Chhaya CDC and Bank of America, National CAPACD welcomes the partnership of the Lawyers’ Committee for Civil Rights Under Law, the Center for New York City Neighborhoods, Asian Americans For Equality, New York City Council, the New York City Department of Housing Preservation and Development, U.S. Department of Housing and Urban Development, NeighborWorks America, AARP, Freddie Mac, Fannie Mae, Emmis Communications WPIX TV, Hot 97 and KISS FM for this event. 

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