DOWNEY - The Asian Real Estate Association of America (AREAA) concluded this year's National Policy Day in Washington, D.C. last week, where they met with policymakers to discuss the sharp decline in homeownership among the Asian American and Pacific Islander community.Downey realtor Caroline Gim serves on the AREAA national public policy committee and attended the event. She met separately with congresswomen Lucille Roybal-Allard, Linda Sanchez and Maxine Waters and with HUD's Fair Housing Office to discuss homeownership challenges directly affecting Southeast Los Angeles County homeowners. "I was pleasantly surprised at how our busy representatives made themselves available to meet with me and discuss these important issues," Gim said. "In more than one instance [a] congresswoman stepped out of a committee session and met with me in the hallway to make sure we had a chance to talk...They are very aware of the situation and open to ideas and suggestions." According to Gim, the real estate market is being further damaged because not enough distressed homeowners "are reaching out for help. Instead, they try to pay someone to take care of the problem and then lose their homes without really knowing what happened." Homeowners can talk to HUD-approved housing counselors at no charge or ask their elected representatives for help. "But please," Gim added, "do not wait until the day before the foreclosure sale to call them."

********** Published: June 07, 2012 - Volume 11 - Issue 08