Posts tagged Paterson

Governor Paterson has been dealing with the mortgage crisis in New York with a remarkable success. He brought to the table a diverse collection – the various actors, mechanics, banking supervision, funding agencies, nonprofit organizations and groups willing to carve a long-term solutions to the problem of foreclosure in progress

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New York responded to the foreclosure Challenge arranging financing and managing the provision of various plans, including advice, assistance, legal assistance and workshops loan modification. He was face to face lenders and borrowers to repair Thrash solutions such as refinancing and the introduction of 40-year home loan rate set by New York State Mortgage Agency met.

The programs for the stabilization of the region were used to convert the units to enter into productive use. Measures are needed in education mortgage fraud unit within the Department of Banking was.

In 2008, legislation to protect these from the problem of foreclosure in New York to address. During the first three quarter of this year, there were 39,923 foreclosure postings in the State of New York. He calculated the 11% decline from the first three quarters of last year. This decrease of 11% is a sure sign of success, compared with 22% increase in seizures across the country while at the same time.

This part Paterson taken administrative measures to try to contain the attacks. In 2008 there were 64 programs the government seized to prevent. He reached for the victims and were aware of this problem. Advice was given, and legal aid was given with the network of foreclosure. A further million was included in the budget (2009-1010) in support of the various remedies foreclosure.

Richard H. Neiman Superintendent of Banks said: “While the foreclosure crisis began with subprime borrowers unsuitable mortgages or exotic, the recession, the impact of the crisis for homeowners whose loan was originally extended affordable This makes the extension. the scope of this Act in a timely manner. In addition, commercial mortgages and multi potentially at risk, “added the protection of the tenants are crucial to help displaced families and stabilize neighborhoods in New York. “

Commissioner of the Department of Housing and community renewal, said Deborah VanAmerongen:” Thanks to the leadership of Governor Paterson and the legislature of the State of New York has a national threatened a leader in providing advice and legal services for home and apartment owners through foreclosure. In addition, the bill would tenants who have no fault of their help the disaster, in a building of foreclosure. “

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President and CEO of New York Homes commented:” This legislation will provide additional protection for homeowners who are behind on their mortgages will offer more opportunities for owners to get advice. help them stay in their homes. This is in line with our efforts to achieve sustainable home ownership in the State of New York. “

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