Foreclosure prevention network calls for vital New York State funding

These are uncertain days for advocates working on the front lines to prevent homeowners from losing their homes to foreclosure. While foreclosure filings in New York State remain high since the housing bubble burst — with nearly 34,000 new filings in 2016 and 72,000 pending cases in court — funding for the state’s only Foreclosure […]

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“Stopping Foreclosure Rescue Scams in Their Track” and other headlines from 2016

DSNews: New York: Stopping Foreclosure Rescue Scams in Their Tracks City Limits: Call for Halt to Aggressive Real-Estate Tactics in East New York ABC 7 NY: Mayor de Blasio, FEMA Announce Plans to Revise NYC Flood Maps  PBS NewsHour: East New York painter confronts the ‘brutal’ force of gentrification Emergency Management: With Hurricane Season Upon Us, Do You Know […]

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Groundbreaking policies to benefit NYC homeowners at risk of foreclosure

New York homeowners at risk of foreclosure will benefit from two promising developments announced last week: the groundbreaking purchase of New York City mortgage notes from the Federal Housing Authority and new reforms to the federal government’s Distressed Asset Stabilization Program. The New York City mortgage purchase initiative is notable because it is the first […]

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How one New York homeowner triumphed over foreclosure

For Pamela Litzsey-Thomas, going into foreclosure on her Niagara Falls home was just another in a series of financial setbacks that included losing her job and getting inundated with medical bills after she was struck by a bus. “I just kept feeling like I was being slapped in the face,” she said. But Litzsey-Thomas refused […]

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Debt, the Racial Wealth Gap, and the Foreclosure Crisis

According to a recent New York Times op-ed, “Debt and the Racial Wealth Gap,” we as a country are facing the widest racial wealth gap since 1989. Today, the median wealth of white families is 13 times the median wealth of black families. In the op-ed, Paul Kiel of ProPublica examines the historical roots behind […]

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Huge Jump in Foreclosure Auctions

With the City Budget nearing completion and a July 15 sale of FHA mortgage notes by the federal government looming, time is of the essence to create and finance the Community Reinvestment Fund. As we talked about in an earlier blog post, the Community Reinvestment Fund will be used to initiate a mission-driven purchase of […]

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Support Homeowners in Foreclosure!

Council Member Daneek Miller expressing support for the new initiative, which he said could aid many distressed homeowners in his district and help to restore the staggering amount of wealth lost in middle-class Queens communities following the foreclosure crisis. In collaboration with our partners Neighborhood Restore and Mutual Housing Association of New York (MHANY), the […]

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Bank of America Funds $8.1M for Foreclosure Prevention Services

Bank of America announced yesterday that it will provide $8.1 million to local New York non-profits to combat foreclosures. The Center for NYC Neighborhoods, in partnership with the Empire Justice Center, is proud to work with Bank of America on this effort, getting the critical funding to housing counseling groups across the state. The funding […]

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