AG announces foreclosure prevention grants

Statistics show that Queens is the borough with the highest share of first-time foreclosures in 2012, and now Attorney General Eric Schneiderman has announced that his office plans to award $3 million in foreclosure prevention services to assist New Yorkers struggling with possible foreclosure. The grant includes $1.5 million for organizations serving New York City.

In January, Schneiderman sought assistance from 31 non-profit legal outfits and legal-aid organizations to provide services to homeowners in foreclosure or at risk.
“As our state faces tight budget times, we must be creative and aggressive in our efforts to support working families who are struggling to stay in their homes,” said Schneiderman. “Funding legal services is essential to bringing relief for the homeowners and communities that have been devastated by the crash of the housing market, and these grants will provide thousands of New Yorkers with the legal expertise they desperately need to defend their rights in court.”

Schneiderman designated a separate $15 million of the $132 million out of the national mortgage servicing settlement as additional funding for foreclosure prevention; $9 million of those funds will be set aside to help the state’s Foreclosure Prevention Services Program – a service previously set to expire on April 1, and $6 million will go towards housing and community renewal initiatives statewide.

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