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More City Students Affected by Foreclosures

Monday, October 04, 2010

The number of public school students affected by foreclosure is growing, according to a study by New York University's Furman Center for Real Estate and Public Policy. More than 18,500 students were affected in the 2006-2007 school year -- a 59 percent increase from three years earlier.

Most of the children were black and lived in homes and apartments in Northern Brooklyn and Southeast Queens. That's not surprising given that those middle-class neighborhoods have been most affected by the wave of foreclosures and they have a high proportion of black residents. But black students made up only 33 percent of public school children that year and constituted 57 percent of all students living in properties that entered foreclosure.

Children living in homes and apartments affected by foreclosures were also disproportionately enrolled in a handful of schools says Ingrid Gould Ellen, a public policy professor at NYU and co-director of the Furman Center. She says these schools also tend to be lower performing on average.

"The fact that these children who are living in foreclosed buildings are concentrated in particular schools means the schools are probably going to be experiencing stress and difficulties in trying to help these children adjust," she predicts. However, she cautions that it's too early to know how the schools were affected.

The Furman Center looked at Department of Education data from the 2006-2007 school year and its next report, to be released late this year, will take a closer look at student mobility and which schools those students attend. Gould Ellen says that while foreclosure rates have been studied before, few researchers have looked at the collateral costs for children -- who may be forced to leave their homes, communities and schools.

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Comments [2]

AlvieC from Texas

Hello,

My friend, this is only the tip of the iceberg. The affidavits are only a climatization process for the big issue to come.
When mainstream America finds out that these mortgage loans have been destroyed since 2000, then you will see big news.

Whether you realize it or not, electronic documents such as electronic promissory notes and electronic security instruments are being used not only to foreclose on victims homes, they are also being used to sell mortgage backed securities. This is fact. Take a look at Florida Bankers Association 09-1460 in the Florida Supreme Court. The FBA has admitted they have converted the paper to electronic.

What is the problem with that you say? There are no supporting laws for the existence of electronically scanned instruments. Fact. Look at 15 USC 7003.
15 U.S.C. § 7003 : US Code - Section 7003: Specific exceptions
(a) Excepted requirements
The provisions of section 7001 of this title shall not apply to a contract or other record to the extent it is governed by -
(3) the Uniform Commercial Code, as in effect in any State, other than sections 1-107 and 1-206 and Articles 2 and 2A.

Only paper is governed by laws of the United States. Only the Uniform Commercial Code Article 3, and Article 9, govern “paper” negotiable promissory notes and “paper” security instruments. However, the revised Article 9, refers to the local laws of jurisdiction (local laws where the property is located).

These mortgages have been bifurcated or separated. The note is separate from the mortgage(deed of trust). What does that mean? It is an Unsecured debt.
The mortgage hold the power of sale clause. With the mortgage/deed of trust separated from the note, the mortgage has no power of sale clause.
Yet, these banks, their firms or whoever, is using the invalid deeds to foreclose.
To better explain this bifurcation, I published an article called “Alvie Explains it”. Just Google alviec or “Alvie Explains it”. Either way, you will find it.

I have plenty of this educational information on scribd.com/alviec. Feel free to get a great education. Maybe then you will see where everybody is getting an understanding on how to fight this foreclosure war.

Problem, so far, nobody has touched the electronic part yet. However, It is about to in Texas.

Best regards,
Alviec

Oct. 05 2010 07:08 AM
Barbara Pritchett

I am so glad that someone finally is paying to attention to how this foreclosures situation is affectng our students. And how can we say lower income this affecting everyone.

Oct. 04 2010 05:53 PM

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