New Mortgage Assistance Programs for NY Homeowners Facing Foreclosure

By | January 16, 2012

(Source: By Tom Incantalupo, Newsday, Melville, N.Y.) - Two new programs to provide legal help and counseling for homeowners facing foreclosure have been announced by state officials, as experts predict a surge this year in home repossessions.

Attorney General Eric T. Schneiderman announced Thursday that $1 million his office received in a 2006 settlement with a mortgage company accused of illegal home financing practices will go toward providing legal assistance for consumers facing loss of their homes.

Bids will be sought from nonprofit legal aid organizations, and money could be flowing to them in as little as eight weeks, said a spokesman for Schneiderman.
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Last week in his State of the State address, Gov. Andrew M. Cuomo announced that a Foreclosure Relief Unit is being set up within the new Department of Financial Services. “We need to resolve this crisis so we can move on,” Cuomo said.

Within a few weeks, unit staffers in a motor home outfitted with offices will begin visiting foreclosure hot spots around the state to offer counseling and mediation services that aim to keep people in their homes whenever possible, Ben Lawsky, superintendent of the new financial services department, said in an interview Thursday. Nassau and Suffolk, he said, will be among the first areas visited. “If you look at the raw numbers,” he said, “they are on top of the list.”

RealtyTrac, the California-based real estate data provider, said about 7,800 Long Island homes received some type of foreclosure-related notice last year. Nassau had the state’s highest foreclosure rate; Suffolk was fifth highest.

Data made available by RealtyTrac to Newsday shows the highest rates of foreclosure on Long Island are in Brentwood, Central Islip, Hempstead, Uniondale and Wyandanch.

Experts predict a surge of new foreclosures this year as paperwork and legal logjams that have been delaying the processing of foreclosures get worked out and more variable-rate mortgages are reset.

RealtyTrac is forecasting a 25 percent increase nationwide, but its director of marketing communications, Daren Blomquist, said in an email, “I believe the New York increase will actually be even higher percentagewise, because we’ve seen bigger delays in the foreclosure process in New York than other parts of the country.”

At the Long Island Housing Partnership in Hauppauge, foreclosure prevention program manager Carol Yopp said, “I don’t think we’ve seen the end of it by any stretch of the imagination.”

©2012 Newsday

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Distributed by MCT Information Services

One thought on “New Mortgage Assistance Programs for NY Homeowners Facing Foreclosure

  1. lauire akbar

    Good Morning

    It’s a little to late for the mortgage settlements from the White House, I just want someone to hear my story what’s about to happen to me with my homes

    I don’t understand WHY did Albany Mortgage Group sold my loan to Rochester Home Equity that is a private lender, I can’t get a Modification or a Hardship on my loan. So what are Senators doing about low income people loans are being sold to small lenders it’s just NOT fair that Predatory Lenders are getting away with this and NO ONE is doing any thing about, something needs to be done so that if you are behind or get sick, lose there jobs can get a Modification or a Hardship It need to be a better LAW again selling Mortgage Loans to small lender that don’t do any Hardship, when other lenders call want to help you, and you say it’s a private own lender, Sorry we can’t help you because the lender is PRIVATE again it’s not Fair to us and I am not giving up until someone hears me, I am going to keep writing and writing until someone helps me! How do you have 2 homes on a Mortgage Loan I need to know that Question!

    I can’t get any help from any one because my loan was sold to a private lender, I have been trying to get help from, Financial Aid Assistance, HUD, Banking Dept, Gov Cuomo, Mayor Jennings, Senators,NO ONE will help me, NOW how am I am being Protected from bad lender like the one I have. That won’t do any FHA, Modification, Hardship on the my loan I have NOT paid this lender for 2 Years because we have tried to get my rate down from 11.5% to 3.5% and again this lender just won’t do any modification. Again my homes are being taking from me and I have been trying for the past 2 1/2 years asking for help in all Departments and NO ONE will help me. So tell me what the President say in his speak, we Americans will be PROTECTED from Predatory Lenders. OK than where is my help in saving my home from this lender. I just want to get my loan Modification and take all the back interest off the loan and work with me but again the lender just WONT now I need your help.

    I have been asking for help from this predatory lender Rochester Home Equity which no one heard of this company. I have filed a complaint against RHE with Department of Financial Services and the reply was I can not get any help from them because my case is in court yes I know that it’s been in court for 2 Years and i am not getting anywhere, I know that the owner of Rochester Home equity is a millionaire, I just can’t bet this lender and it’s not fair that . is going to take my houses and won’t do a modification, and it’s so sad that from Rochester Home Equity taking advance of low income people, I just want to know how many other victims is out there and couldn’t get any help from anyone to help them before it was to late and everything they work for is GONE. My problem is I am being counsel by my lawyer but again it’s has been a on gowning problem with Rochester Home Equity, all we been asking is for Rochester Home equity to TAKE my mother house off the lien that didn’t have any mortgage on the 48 Homewood Ave my mother left me and my brother and do modification my house on 43 Twiller St. Rochester Home Equity is just giving us a hard time. As of right now I am debt with my lawyer for $10,000.00 that money I don’t have because going to court and trying to do modification and we are not getting anywhere with this lender. I am so tried that Rochester Home Equity want reply to any thing that my lawyer is asking. I just want RHE this predatory lender just take my mother home that she left me and my brother off the lien that didn’t have any mortgage on the home and work with my home that is worth $136,000.00 I brought the house I live in for $130,000.00 and my rate is 11.5 % don’t you think that a very HIGH rate. Yes I am bennig counsel by a lawyer as i stated my lawyer is not getting anywhere with this Rochester Home Equity. All I am asking you for help and step in because what RHE is doing is wrong and like I stated NO one cares what happen to me and other people that the lender is doing to us and hurting people too. Now I will be going into Chapter 13 because I don’t want to lose my homes, and RHE this Predatory Lender just don’t care ONLY wants both houses. So can you PLEASE step into this matter! It’s a big problem as you see what have happen to me. Me and my lawyer just want Rochester Home Equity is take my mother home off the lien and work with the new modification and redo my loan, but that’s not going to happen so that is why I am pleading with you ASAP to save my houses. Again Please take a close look at me statement again.
    I am also going to email you all the my document to you. And hope you can find out that i have been taking advance of all i am asking if you can take your time and read what i am sending you, and again i am just asking for this lender to take my mother house off the lien and let me do modifcation as i been trying to do. I have got sick with CHF i ask the lender that i am not making money because of my health can they do a modification on my home and again the answer was NO. Please look into my case PLEASE.

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