Mortgage Lending & Foreclosure Prevention
Consumers are faced with a variety of decisions and
challenges when considering obtaining a mortgage to purchase a home or
refinancing their current mortgage. They are doubly pressed when life
circumstances cause them to go into default and when they are facing the
possibility of foreclosure and losing their home.
Empire Justice Center has been working for over
a decade to help assure that consumers have access to affordable, responsible
mortgages and that their rights are protected when in foreclosure. This section
of the website has information on state and federal laws to protect consumers
with respect to mortgages and foreclosures, Empire Justice Center reports on
mortgage lending and the foreclosure crisis, as well as resources to help
consumers in default or at risk of foreclosure.
Funding for Advocates to Save Homes from Foreclosure
In this historic agreement, the Governor, Legislature and Attorney General collaboratively restored $9 million to ensure the continuation of the Foreclosure Prevention Services Program. Read more on how this agreement happened. Read More
March 2012 Foreclosure Funding Fact Sheet
Funding for foreclosure prevention services runs out March 31,2012. To preserve these critical services for homeowners, $25 million must be allocated in the 2012-13 budget. Read More
New Survey of Housing Counselors Points to Banks Failures in Compliance with Foreclosure Prevention
A new survey of housing counselors in California reveals the failure of banks to comply with policies and programs that would help homeowners avoid foreclosure. Read More
Insurers Facing Greater Scrutiny
New York's top financial regulator is expanding an investigation of insurers that force homeowners policies on borrowers after turning up evidence that consumers were charged too much, according to people familiar with the situation. Read More
Federal Reserve Announces a Consent Order Against Morgan Stanley
The Federal Reserve Board on Tuesday announced a Consent Order against Morgan Stanley to address a pattern of misconduct and negligence in residential mortgage loan servicing and foreclosure processing at its subsidiary, Saxon Mortgage Services, Inc. Read More
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Steering Committee of the Campaign to Save Foreclosure Prevention Services 2012 Budget Testimony
The Steering Committee provided written testimony to the Joint Budget Committees on funding for foreclosure prevention services in New York Read More
Empire Justice Testimony at the Roundtable Discussion on the Issues and Concerns of Human Services Administrators, Advocates and Clients
Testimony on the need to invest in child care assistance, the economic impact of foreclosure, improving identification of disability screening for welfare applicants and sanction policies, and the importance of full implementation of the final phase of the welfare grant increase. Read More
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Paying More for the American Dream V
Access to mortgage refinance loans sharply declined in communities of color – and increased substantially in predominantly white neighborhoods, according to a report released today by a multistate collaboration of regional research, policy and advocacy organizations, including Empire Justice Center.... Read More
The Mortgage Meltdown II
New York's continuing foreclosure crisis and the need to help homeowners avoid the loss of their homes Read More
RESOURCES
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Representing Homeowners at Mandatory Settlement Conferences
Mandatory settlement conferences are now an integral component to the foreclosure process for subprime loans. The governor has signed a new law that expands the settlement conferences to all residential loans. Pro Bono lawyers have been approved to represent homeowners for the limited capacity of these settlement conferences. This training addresses important considerations for lawyers willing to represent homeowners in this capacity. Read More
New Approaches to Stabilizing Homeowners and Communities in Western NY
This taped broadcast is geared towards housing counselors, legal services organizations, lenders, public officials, community-based organizations, and anyone who is concerned with the impact of the foreclosure crisis on homeowners and neighborhoods in the western part of the State. Discussion topics include information about housing counseling standards, specialized foreclosure trainings, State programs addressing the foreclosure issue, and successful approaches to reducing foreclosures, among other topics. Read More
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