Title
a. Receive request from Executrix, Peggy Silvestri, of the Epie L. Fresquez and Tomasa M. Fresquez Estate to forgive the accrued interest on their CalHome loan in the amount of $18,990.41 and their HOME loan in the amount of $63,152.89 accrued through July 31, 2019; and
b. Deny the request from Executrix, Peggy Silvestri, of the Epie L. Fresquez and Tomasa M. Fresquez Estate to forgive the accrued interest on their CalHome loan in the amount of $18,990.41 and their HOME loan in the amount of $63,152.89 accrued through July 31, 2019.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive request from Executrix, Peggy Silvestri, of the Epie L. Fresquez and Tomasa M. Fresquez Estate to forgive the accrued interest on their CalHome loan in the amount of $18,990.41 and their HOME loan in the amount of $63,152.89 accrued through July 31, 2019; and
b. Deny the request from Executrix, Peggy Silvestri, of the Epie L. Fresquez and Tomasa M. Fresquez Estate to forgive the accrued interest on their CalHome loan in the amount of $18,990.41 and their HOME loan in the amount of $63,152.89 accrued through July 31, 2019.
SUMMARY:
On June 21, 2006, the County's Housing Loan Committee approved a rehabilitation loan to replace Epie L. Fresquez and Tomasa M. Fresquez' existing home at 419-A Hyland Drive, Salinas, CA 93907 with a 3-bedroom, 2-bath manufactured home. There were two (2) funding sources for their loan request-- 02HOME-0620 and 04CalHOME - that made up the total loan. Repayment of loan principal and interest was deferred until such time as the property was either sold or transferred to someone other than a spouse or original co-borrower, or the borrowers ceased to occupy the unit as their primary residence, whichever came first. Ms. Tomasa M. Fresquez passed away first, and Mr. Epie L. Fresquez placed his property in a revocable living trust. The last surviving parent passed away in June of 2011. At the time both Mr. and Mrs. Fresq...
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