$3.1 Million In Funding To Help LI Families Avoid Foreclosure

NewsLI.com
September 24, 2012

Contact: Anne Erickson,  (518) 462-6831

Attorney General Eric T. Schneiderman today announced the grantees of the Homeowner Protection Program, his office’s commitment of $60 million over three years to fund housing counseling and legal services for struggling New York homeowners. Today’s announcement covers the first year of program funding at $20 million to aid struggling homeowners across New York State who are fighting to avoid foreclosure and remain in their homes. On Long Island, 15 legal services organizations and housing counseling agencies will receive over $3.1 million to provide free foreclosure prevention services.

“The rise in foreclosures on Long Island and across the state is troubling, but this isn’t just a matter of numbers: each foreclosure represents a devastating loss for a family and a community. This program puts homeowners first, and these organizations will help get our neighborhoods back on track,” said Attorney General Schneiderman. “Funding housing counseling and legal services is an essential first step to help more families stay in their homes and avoid foreclosure. As we continue to investigate the mortgage crisis that has hurt communities in every corner of this state, we must ensure that homeowners get the expert guidance and legal representation they need to protect their rights before it’s too late.”

The funds awarded today are the result of a competitive Request For Applications process and represent a portion of the millions of dollars that New York received as a result of the National Mortgage Servicing Settlement that was announced in February between the five largest mortgage servicing banks, 49 states, and the federal government over foreclosure abuses.