Up to $20 million in grants will be awarded to homeowners to avoid foreclosures, Attorney General Eric Schneiderman announced today.
The $20 million grant is the second installment in the three-year, $60 million Homeowner Protection program to help struggling homeowners. The money will go to 34 legal service organizations and 54 housing counseling agencies throughout the state, Gannett’s Ashley Hupfl reports.
The Hudson Valley will receive about $1.6 million, Western New York will receive about $1.1, and the Southern Tier, as well as, Monroe County, will receive about $1.3 million to help fight foreclosures.
“Foreclosures are painful to any family and any community that experiences them, but we now have a proven program that is putting homeowners first and getting neighborhoods throughout the state back on track,” Schneiderman said in a statement.
The funds come from the National Mortgage Settlement, when New York and 48 other states last year settled with the five largest mortgage-servicing companies in the country.
Schneiderman committed $60 million of the settlement money to aid homeowners and partnered with Center for New York City Neighborhoods and the Empire Justice Center to create the Homeowner Protection Program.
“This past year, with funding for the Attorney General, we helped tens of thousands of New Yorkers. We now have the funds to help even more others fight bureaucratic roadblocks to foreclosure that the nation’s biggest banks have promised to fix but have not yet fixed,” a senior staff attorney for Empire Justice Center Kirstin Keefe said in a statement.
For more information on the Homeowner Protection Program visit: http://www.aghomehelp.com/