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.
New Yorkers for Responsible Lending Information on the Foreclosure Shadow Docket
Frequently asked questions and other information on New York's foreclosure Shadow Docket. Read More
Down Payment Rules Are at Heart of Mortgage Debate
It seemed an easy fix to prevent the excesses of the housing market: make home buyers put more money down.
But as the housing market starts to return and the subprime mess fades from memory, the issue is up for debate. Read More
NY attorney general threatens to sue Wells Fargo, Bank of America
New York Attorney General Eric Schneiderman says he plans to sue Wells Fargo and Bank of America for violating terms of the $25 billion National Mortgage Settlement. Read More
Wealth Gap Among Races Has Widened Since Recession
Millions of Americans suffered a loss of wealth during the recession and the sluggish recovery that followed. But the last half-decade has proved far worse for black and Hispanic families than for white families, starkly widening the already large gulf in wealth between non-Hispanic white Americans and most minority groups, according to a new study from the Urban Institute. Read More
Tabla de salvación para dueños de viviendas en NY
Fiscalía estatal de Nueva York lanza una línea gratuita de ayuda para salvar inmuebles hipotecados Read More
A Call for Transparency and Accountability When Liens are Placed on the Homes of Welfare Recipients
Currently, local social services districts do not provide the homeowner with an accounting of the amount of public assistance paid nor the amount of the accrued debt or credits made against the home. Read More
Empire Justice Memo of Support: Ensure Fairness in New York’s Foreclosure Process
This bill requires certification to be filed up front with the summons and complaint. The certificate must verify that the lawyer has reviewed the facts of the case and verified with the plaintiff that there is a “reasonable basis” for filing the lawsuit. Read More
The Long Island Foreclosure Crisis: Stabilizing the communities most impacted by foreclosures in Nassau and Suffolk Counties
Study identifies hardest hit towns and strategies to keep families in their homes and limit damage to the local tax base. Read More
Paying More for the American Dream VI
This report examines systemic inequities in the mortgage market, as reflected in neighborhood lending patterns based on race and ethnicity. The authors analyzed 2010 Home Mortgage Disclosure Act (HMDA) data, and compared conventional and government-backed prime mortgage lending in seven U.S. cities, based on borrowers’ race and ethnicity and the racial and ethnic composition of neighborhoods. Read More
Credit Card 'Checkout Fees': Coming Soon to a Store Near You? :
New credit card “checkout fees” may be coming to a retailer (brick & mortar and online) near you after the new year. While checkout fees are illegal in NY and 9 other states, you may want to read this guide by Consumer Action to know your rights.
Credit card company problems :
If you have a problem with your credit card company, first call the company and try to resolve the problem.
How to get and keep a good credit score :
This is information provided by the Consumer Financial Protection Bureau on the steps to take to get and keep a good credit score.
Consumer Action 2011 Fall Issue: Secured Credit Card Survey :
One of the few ways to build a credit record or to rebuild a damaged credit history is with a secured credit card.
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