Leon Keith nearly lost his three-family home in the Bronx in 2012, after becoming ensnared in a high-profile Ponzi scheme. He credits the foreclosure prevention services operated by the Legal Aid Society helping him in court and in obtaining a loan modification that enabled him to pay his mortgage. (Read the rest of the article […]
From New York to California, communities struggling with a shortage of affordable housing are giving renewed attention to a model of housing preservation that ensures home prices and rents stay within reach for low-income households. That’s why more and more cities are turning to community land trusts. In the community land trust model, a nonprofit […]
These are uncertain days for advocates working on the front lines to prevent homeowners from losing their homes to foreclosure. While foreclosure filings in New York State remain high since the housing bubble burst — with nearly 34,000 new filings in 2016 and 72,000 pending cases in court — funding for the state’s only Foreclosure […]
Linda Gold’s husband died the night of Hurricane Sandy trying to save their home from the storm. “I had lost my husband and my house was in ruins,” she says. Even while facing unimaginable loss, Gold was about to begin a nightmarish journey to try to rebuild her home and her life. Gold, with her […]
Seven years ago Deonarine Persaud and his wife paid off the mortgage on the single-family house in Cypress Hills, Brooklyn, that they’d acquired in 1989 for $120,000. Shortly after, however, their health started to fail. Persaud had a heart attack, and his wife had to retire early from her job as a nurse because she […]
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Dozens of East New York and Cypress Hills residents marched across Eastern Brooklyn on Saturday to tell speculators that their neighborhoods are “not for sale.” Along the way, participants tore down “all cash” for homes signs that have become an unwelcome symbol of the rush of developers and brokers targeting homeowners in and around the […]
Last week’s tragic floods in Louisiana have caused 13 deaths, damaged more than 40,000 homes, and displaced tens of thousands. While initially underreported by the national media, the storm is being called the worst natural disaster since Hurricane Sandy. Unfortunately, the devastation caused by the flooding will be much harder to recover from for the […]
A year ago, more than two dozen organizations proclaimed that New York City’s neighborhoods are the “bedrock of its success” as they set forth an ambitious agenda for protecting affordable homeownership. The Coalition for Affordable Homes, as it named itself, aimed to leverage the collective strength of 26 organizations to influence policy in order to […]
New York homeowners at risk of foreclosure will benefit from two promising developments announced last week: the groundbreaking purchase of New York City mortgage notes from the Federal Housing Authority and new reforms to the federal government’s Distressed Asset Stabilization Program. The New York City mortgage purchase initiative is notable because it is the first […]
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