State aid will help families avoid foreclosure

Attorney General Eric T. Schneiderman on Monday announced the grantees of the Homeowner Protection Program, his office’s commitment of $60 million over three years to fund housing counseling and legal services for struggling New York homeowners.

Some $20 million will fund the first year of aid to struggling homeowners across the state who are fighting to avoid foreclosure and remain in their homes. Throughout the state, 35 legal services organizations and 59 housing counseling agencies will receive more than $16.1 million to provide free foreclosure prevention services. An additional $3.9 million has been allocated for training, technical assistance, and other support services to assist homeowners in foreclosure. 

The funds awarded Monday are the result of a competitive process and represent a portion of the millions of dollars that New York received as a result of the National Mortgage Servicing Settlement that was announced in February between the five largest mortgage servicing banks, 49 states and the federal government over foreclosure abuses.

More information on is available at www.nysmortgagesettlement.com/resources.html.