I had read with interest both in the media and on the internet references to the mortgage saving partnership involved in the New Brunswick Bank ,the "Feds", and Rev. Soaries a former Republican state official and candidate for Congress..
I would like to know more about the Rev. DeForest ‘Buster’ Soaries and the First Baptist Community Development Corporation program to help those faced with home foreclosure. Judging from what little I read on the internet the idea seems to be an excellent one although I am not sure if the saved property is purchased by the Corporation at the price of the outstanding loan or market value or discounted. As I understand the former property owner will be allowed to lease back the property although I am not sure what the is formula involved on the transaction . Will that person have the right to reacquire the property?
Who pays back the funds that have been granted to the bank and administered by the Corporation, or is it an outright gift? Are funds to be granted to businesses? What are the criteria needed for the granting of funds to home owners or business? Who determines elgibility? What safeguards will be inplace to prevent potential abuses in the allocation application process?
I hope the Assemblyman or the principles will post answers in Jerry Greens blog or unedited it the news media.
As one old “Malapropist” to another, I hope that the Assemblyman will accept my apology for calling attention to the two paragraphs that I have reproduced and would clarify or rephrase them. The italics are mine; I have included dictionary definitions;
“I am hoping to meet with social organizations, as well as the clergy, community, and the administration to orchestrate a plan that will channel the flow of this funding to those who are in specific need of the funding. In other words, we want to ensure that this funding saturates (drench, wet through) those who need it. It is important to secure a tight-knit structure to predicate ( to proclaim, declare, to connote, imply) these funds to the appropriate parties; those who really need the help and support.
For those who were not able to attend last night’s foreclosure and financial crisis forum, feel free to call my office so that I can exhaust (use up ,deplete) my resources in means (?) of putting you in direct contact with the necessary parties; those being either on the state, county, or local levels of government. (I would hope that this convoluted sentence does not suggest that there will be nothing left, that after you are “put in touch” he will not be able to help) I will also put you in touch with Rev. Soaries’ office, so that they may further assist you. These groups will further guide you in the direction of solution and satisfaction of your grievance.
As I explained to the public last night, it is my duty on the state level, as well as in the city, to bring solutions to problems, rather than criticize situations and then do nothing about it. ( keep up the good work!)I herein take pride in this duty.
------------------------------------------------------------------------------------------------------------------
As I keep reading the media stories, and the "blogs", plus the few budget hearings I attended the City's finances and fiscal controls are FUBAR. Do we need a new accounting firm, one that has not had so mnay years of close proximity with the administrations. Remember Enron, the accountants paid no heed to various entries.







