Foreclosure Help for Homeowners Under Threat, Advocates Warn


Funding for the 32 legal aid and nonprofits in the city that provide free help to homeowners needing loan modifications or other assistance may soon disappear.
News Story (New York)

Amy Zimmer
DNAinfo (NYC and Chicago)
March 7, 2017
READ THE FULL STORY HERE

Tags: Funding: State & Local, Housing: Foreclosure

Organizations mentioned/involved: Legal Services NYC (LSNYC)


DETAILS

That’s why advocates are calling on Albany to include $30 million in its budget to protect these services across the state through 2018.

“Communities are still struggling,” said Meghan Faux, of Legal Services NYC. “In New York City in particular, the homeowners typically have a renter, so these homes are a source of home ownership and a source of affordable housing for renters.”

New York City saw more than 7,300 new foreclosure filings last year and more than 50,000 pre-foreclosure notices sent, according to data from Legal Services NYC.

These numbers are down from the peak of the crisis, advocates said, but they are still well above pre-2008 levels.