George Castrataro Speaks on Foreclosure Panel

Tuesday, August 17th, 2010

At the recent 2010 Affordable Housing Summit, held at the Broward County Convention Center, Mr. Castrataro, who currently serves on the Broward County Housing Council, spoke on the Foreclosure Panel.

The formidable goal for the foreclosure panel, as well as the other breakout session, panelists was to generate new ideas and suggestions for coping with the affordable housing issue in Broward County, including resources, financing and educational efforts.

The Council is seeking to address four primary challenges:

How to:

  • Keep willing Broward residents in their homes.
  • Handle/mitigate the sheer volume of loans that have defaulted or seem ready to default.
  • Keep borrowers committed to paying for a mortgage that is "underwater."
  • Increase the stabilization of the real estate market.