New York AG Announces Further Funding for Foreclosure Prevention

foreclosure-keysNew York Attorney General Eric Schneiderman announced another $11.5 million in funding to aid 28 legal services organizations in the state for foreclosure prevention and community stabilization, according to an announcement from Schneiderman’s office.

The New York State Comptroller is currently reviewing the grants for final approval; the grants are for one year with a possibility of a one-year renewal. With this round of funding, the total invested in foreclosure prevention by Scheiderman’s office is now more than $70 million.

The latest round of funding will go to support the Homeowner Protection Program (HOPP), which is a statewide network of nearly 90 housing counseling and legal services agencies that provide free, high quality assistance to help struggling homeowners avoid foreclosure and stay in their homes. Since 2012, HOPP has assisted more than 50,000 at-risk homeowners achieve this goal. Schneiderman has supported HOPP with more than $100 million from settlements his office negotiated with the biggest banks in the wake of the housing crisis.

Earlier in 2015, an additional $10.1 million investment, funded by settlements the AG reached with Bank of America and Citi in 2014, was announced across the state of New York. The investment went to assist 56 housing counseling agencies within the HOPP network, according to Schneiderman.

“New York has long been at the forefront of creating innovative ways to address the foreclosure crisis.”

“New York has long been at the forefront of creating innovative ways to address the foreclosure crisis,” Schneiderman said. “I have said since the day I took office that no one should ever lose their home because they didn’t have access to a lawyer. My office is dedicated to using all the tools at our disposal to make sure mortgage servicers are held accountable in providing relief to New York families who continue to weather the foreclosure crisis.”

Schneiderman has made foreclosure prevention and recovery from the housing crisis priorities during his administration. His efforts have resulted in the creation of the HOPP network and two other key pillars, the New York State Mortgage Assistance Program and AGScamHelp.com.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s