Mortgage buyback program appears to help SE Queens (Times Ledger)
A program created to buy back distressed mortgage notes held by the federal government that was championed by southeast Queens lawmakers is seeing promising results thus far, according to testimony at a City Council oversight hearing. (Original article in Times Ledger)
Bronx neighborhoods lead in mortgage delinquency nearly two years after COVID pandemic began
Nearly two years after the coronavirus pandemic began, the economic fallout from the virus has pushed thousands of New York City homeowners to the brink of foreclosure. Yet the financial distress among homeowners is unevenly distributed throughout the five boroughs, according to a new analysis of mortgage delinquency data by the Center for NYC Neighborhoods. […]
A Snapshot of New York City Mortgage Distress
New York City has significantly higher levels of mortgage distress than the rest of New York State, according to the Federal Reserve Bank of Atlanta. We estimate there are approximately 75,000 New Yorkers at risk of foreclosure in the coming year. This estimate includes New York City borrowers in forbearance and those not in forbearance […]
Center statement on help for NY homeowners in virus relief bill
STATEMENT FROM THE CENTER FOR NYC NEIGHBORHOODS ON HELP FOR NY HOMEOWNERS IN $1.9 TRILLION COVID RELIEF BILL Leading Homeownership Nonprofit Applauds Congressional Leadership and Biden Administration for Passing Critical Bill, Details How It Can Help New York Homeowners Statement from Christie Peale, CEO and Executive Director of the Center for NYC Neighborhoods: We applaud […]
Homeowner Assistance Fund: Advocates applaud Senate bill fund to help millions of families keep their homes
FOR IMMEDIATE RELEASE: FEBRUARY 5, 2021 ADVOCATES APPLAUD SENATE BILL FUND TO HELP MILLIONS OF FAMILIES KEEP THEIR HOMES; URGE INCLUSION IN COVID STIMULUS BILL Housing and Civil Rights Groups Call for Homeowner Assistance Fund to Avoid New Wave of Foreclosures and Devastating Effects for Communities of Color Today, leading housing and civil rights groups […]
Coronavirus Mortgage Relief: The Basics
We understand that this is a confusing and scary time for many homeowners during the COVID-19 pandemic. Many of you are wondering how you might make your next mortgage payment and what options you might have for protecting your families financially. The Center for NYC Neighborhoods is here to help homeowners like you bring much […]
New York State Homeowner Protections Will Help Victims of Scams
UPDATE: Gov. Andrew Cuomo signed the legislation Aug. 14, 2019, expanding protections for deed theft victims, as well as other measures that further safeguard homeowners. “These measures enact sweeping protections for homeowners and close loopholes in order to level the playing field and preserve the American Dream for New Yorkers in every part of this […]
Advocates Urge Governor Cuomo to Continue Endangered Funding That Helps Keep New Yorkers In Their Homes
No Funding to Continue Nonprofit Housing Counseling and Legal Services in Executive Budget Statement from the Communities First coalition in response to Governor Cuomo’s executive budget address: “For New York homeowners, there was one devastating omission in Governor Cuomo’s executive budget: funding to continue essential, free nonprofit housing counseling and legal services to New Yorkers […]
Critical New Funding Will Help Finance Home Repairs in NYC
The housing stock in East New York is old, with nearly half of the buildings in the neighborhood constructed before 1947. For homeowners, the aging structures mean more repairs, and often more costly repairs. For senior homeowners living on fixed incomes or owners whose modest take-home pay is swallowed by their monthly expenses, these repair […]