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Mayor Michael Bloomberg and Council Speaker Christine C. Quinn announce the creation of the Center to help tackle the local response to the subprime mortgage crisis. Bloomberg says homeowners at risk of foreclosure cannot wait for a national response.
The Center, with a network of 27 community-based organizations, becomes the largest independent non-profit organization in the country devoted to helping homeowners at risk of foreclosure.
Homeowners were faced with the challenge of a broken mortgage servicing industry by 2010: Of 3,300 mortgage modification requests that year, only 500 received permanent modifications. In response, the Center created a new program to tackle the most difficult cases through direct negotiations with lenders.
The Center brought together hundreds of homeowners, housing counselors, legal service providers, loan officers from major banks and elected officials to solve mortgage challenges at citywide “Rise Up, Stay Put” events.
The Center takes a leadership role in helping homeowners to recover from the hurricane by coordinating counseling and raising $1.3 million to help the unmet needs of households traumatized by the storm. The Center also played a pivotal role in helping to direct federal funds toward storm recovery and reconstruction.
With funds from the national mortgage settlement, New York State Attorney General Eric Schneiderman announces the creation of the Homeowner Protection Program to assist households facing foreclosure. The Center is named as an anchor partner to provide day-to-day support and technical assistance to groups named as HOPP members.
Having successfully launched a citywide program offering loans to homeowners at risk of foreclosure but who were unqualified for any other remedy, the New York Attorney General’s Office agrees to take it statewide as the Center’s New York State Mortgage Assistance Program.
The Center partners with the New York Attorney General’s Office to raise awareness of the scourge of foreclosure rescue scams that are rampant in quickly gentrifying neighborhoods.
With funding from the Governor’s Office of Storm Recovery, the Center embarks on an effort to deliver assessments of flood vulnerability to select waterfront homes through the innovative FloodHelpNY.org web platform.
As neighborhoods have stabilized from the subprime mortgage crisis, the Center has pivoted toward building the foundation to become a one-stop shop for protecting and promoting affordable homeownership.
The Center for NYC Neighborhoods
60 Broad Street, 24th Floor, Bond Collective - Suite 2503
New York, NY 10004
Dial 311 and ask for the Center for NYC Neighborhoods
Or call us directly at 646-786-0888
Email: [email protected]
