NY Attorney General announces $10M foreclosure grants for homeowners

Foreclosure Grant

Via news10.com

ALBANY, N.Y. (NEWS10) — Along with rent relief, New York is offering assistance to homeowners facing foreclosure in the form of grants.

State Attorney General Letitia James announced the Homeowner Protection Program on Friday. She says the $10 million dollar fund will be used to protect struggling homeowners facing financial burdens because of the pandemic.

Get mortgage assistance here.

“Owning a home is a staple of the American Dream,” James says. “During these uncertain times, the need for assistance and guidance to get homeowners back on track is evident and urgent.”

The $10 million in grant funding is just part of a $20 million allocation to support struggling homeowners.

As mortgage payment deferrals start to expire, the program will connect New Yorkers to free, qualified mortgage assistance relief services—like counselors and legal service organizations—available statewide.

James says there is an intense need for the type of assistance, with over 170,000 homeowners applying for forbearance on their payments in the first quarter of 2020, compared to only 7,000 in the last quarter of 2019.

Refinance your mortgage and get help.

Christopher Charles spent 6 years in the mortgage industry before moving into the world of digital media. He's helped thousands of families buy and refinance real estate at banks and mortgage companies and now continues that mission through industry-leading content. Chris is known for his expertise in the mortgage & real estate industry and continues to produce content all over the web.

Leave a Reply

Your email address will not be published. Required fields are marked *