Foreclosure Services Program Flier September 2011
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Transcript of Foreclosure Services Program Flier September 2011
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8/3/2019 Foreclosure Services Program Flier September 2011
1/2
ForeclosureCrisisandResponseForeclosureCrisisandResponseForeclosureCrisisandResponse
ForeclosurePreventionServiceProvidersandtheirClientsurgethe
GovernorandLegislatureto
Restore$25
Million
in
funding
to
the
Foreclosure
Prevention
Services
Progra
NewYorkisstillinthemidstofaforeclosure
crisis.Lastyear,morethan250,000pre
foreclosurenoticesweremailedtohomeown
erswhilemorethan77,000foreclosureswere
pendingstatewide. Indeed,sixofNewYorks
citieswereamongthetop25metropolitan
areasnationwidewiththelargestincreasein
seriouslydelinquent
mortgages
last
year.
Conservativeestimatespredictthatthenation
isaboutathirdofthewayintotheforeclosure
crisis. NewYorkhasaggressivelyaddressedthis
crisisbyincreasingprotectionsforhomeowners
andtenants,initiatingasettlementconference
process,andenactingservicerregulations.
Theseactionshavehadpositive effects: New
Yorkranked
second
of
only
11
states
which
experiencedhomepriceappreciationin2010.
Now,fundingcutbacksthreatenthisprogress.
In2008,theForeclosurePreventionServices
Programgreatlyexpandedhousingcounseling
andlegalservicesthroughoutthestategiving
homeownersaninvaluabletoolinfighting
foreclosurein
and
outside
the
court
process.
Thisfundingsupportsmorethan120organiza
tionsthroughoutthestate. Over43,000
serviceshavebeenprovidedtoassistfamilies
tosavetheirhomes.
Vitalservicesareonthevergeofbeingcut
unlessfundingisrestored.
Inanationwidestudy,homeownerswho
received counselingwere1.7timesmore
likelyto
cure
their
foreclosure
than
home
ownerswhodidnotreceivecounseling.
Housingcounselorsaidedhomeownersto
obtainmonthlypaymentsonaverage
$267lessthanpaymentsachievedbynon
representedhomeowners.
UrbanLeagueReport,http://nw.org/network/nfmcpdocuments/2010.12.14FINALModelingReport.pdf
BasedonaSeptember2011snapshotsur
veyofserviceproviders,with70organiza
tionsresponding,betweenJanuary2010
andAugust2011,over40,000house
holdswereassistedundertheForeclo
surePreventionServicesProgram. Over
4,900homesweresavedand6,900fore
closuresprevented.
Without
continued
funding43%ofthesegroupsreportthat
theywillsubstantiallylimittheirforeclo
surepreventionservices,leavingtensof
thousandsofhomeownerswithoutassis
tanceandeliminatingmorethan100job
Thissurveycapturesoutcomesforap
proximately60%ofHCRgrantees,but
basedon
this
data,
during
this
period
it
costNewYorksubstantiallylessthan$40
perhometoavoidforeclosure,whichin
turnyieldedsecondaryeconomicbenefit
toneighborsandcommunitiesandhelpe
tosupportthestateandlocaltaxbase.
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8/3/2019 Foreclosure Services Program Flier September 2011
2/2
ServicesProvidedUnderthe
ForeclosurePreventionServicesProgram:
HousingCounseling: Housingcounselors
helppreparemodificationpackages,negotiate
directlywith
lenders
to
obtain
affordable
modificationsandprovideoneononebudget
counseling.
Legalassistance: Legalservicesoffices
represent,andhavetrainedhundredsofpro
bonoattorneystorepresent,homeownersin
settlementconferencesandnegotiateloan
modifications. Legalserviceprovidersalso
defendhomeownersinforeclosureactions,
raisingproceduralandsubstantivedefensestoforeclosures,protectinghomeownersrightsand
preventingillegalforeclosures.
Outreach: Thousandsofhomeownersare
informedabouthowtoresolvetheirmortgage
delinquency,whattheirrightsareinthe
foreclosureprocess,andtheimportanceof
appearingatsettlementconferences,greatly
reducingdefault
rates
across
the
state
from
90%
to20%.
Training: Advocatesandprobonoattorneys
developskillsandobtainuptodateinformation
ontheforeclosureprocessandprograms
availabletomodifyloansandresolvedefaults.
SupportingtheCourts: Organizations
supporttheOfficeofCourtAdministrationby
developing
court
notices,
training
personnel,
conductingoutreach,screeninghomeowners
anddevelopingbestpractices.
Dealingwiththebankwasreallystressful.
WhenIcalledthemortgagecompany,
sometimesIcouldntgetthroughtoany
one;othertimesIwasputonholdforlong
periodsoftime. Theylostmypaperwork
andgave
me
conflicting
advice.
In
the
end,
theyrefusedtoworkwithme. WhenIgot
theforeclosurepapersinMarch2009,Idid
notknowwhattodo. Iwasterrifiedwe
weregoingtoloseourhomeoftwenty
yearsLegalServicesworkedsohardon
ourbehalf;Iamverygratefultothemfor
helpingussaveourhome. MywifeandI
wouldbehomelessifwehadntfound
LegalServices.
LegalServicesclient
Formoreinformationpleasecontact:
KirstenE.Keefe
KristinBrownLilley
EmpireJusticeCenter
(518)4626831
HilaryLamishaw
NeighborWorksAllianceofNYS
5182728289x214
MeghanFaux
LegalServicesNYC
7182463276
STATEWIDE CAMPAIGN TO SAVE
THE FORECLOSURE PREVENTION SERVICES PROGRAM
