May 16, 2012
Contact: David Neustadt 212-709-1691
CUOMO ADMINISTRATION PROGRAM TO STEM FORECLOSURES TO VISIT HOMEOWNERS IN NASSAU COUNTY
Department of Financial Services Foreclosure Prevention Specialists Available to Meet Homeowners at Freeport Train Station 11 a.m. to 7 p.m., Friday, May 18
Benjamin M. Lawsky, Superintendent of Financial Services, today announced that Department of Financial Services mortgage foreclosure prevention specialists will meet with homeowners already in foreclosure and those at risk of foreclosure from 11 a.m. to 7 p.m., Friday, May 18 in the Village of Freeport in Nassau County.
The foreclosure prevention specialists will be available in the Department’s Mobile Command Center, which will be located in the parking lot of the Freeport Train Station at the northeast corner of Sunrise Highway and Henry Street.
Superintendent Lawsky said: "Governor Cuomo believes that it’s essential that we provide as much help as possible to financially-troubled homeowners. Our objective is to provide direct help to homeowners and get the word out to others that it’s important to ask for help as quickly as possible. The longer a homeowner waits, the harder it may be to save a home."
Senator Charles J. Fuschillo Jr. said: “It's important for families who are struggling to stay in their homes to remember that there are services available to help them. This free program enables residents to speak one-on-one with trained specialists, ask questions, and learn about services to help them stay in their homes. I thank the Department of Financial Services for partnering with me to offer this important service to local residents.”
Assemblymember Earlene Hooper said: “The purchase of a home is the most important purchase of any family or individual. The fear of losing a home through no fault of their own is devastating. I am proud to support the Governor’s leadership in taking on this issue to help homeowners so that we can ensure that the American dream of owning a home is a reality and not a nightmare.”
The Department’s foreclosure prevention specialists will meet with homeowners to assess where they are in the pre-foreclosure or foreclosure process.
They will offer:
· Information to homeowners about specific loan modification programs which may be available to them;
· Guidance to homeowners on how they can file complaints with the Department so that cases of lender or mortgage servicer abuses, such as predatory lending practices, can be investigated.
U.S. Housing and Urban Development (HUD) approved housing counselors will also be available.
The foreclosure prevention specialists will meet with homeowners inside the Department's Mobile Command Center, a 36-foot long vehicle. Homeowners should bring with them any documents relevant to their individual situations, such as records of mortgage payments or letters to them from lenders or mortgage servicers.
Homeowners may also file complaints using the Department website, www.dfs.ny.gov. Also, information may be obtained by calling the Department's toll-free foreclosure hotline, 1-800-269-0990 or 518-457-1654, from 8:30 a.m. to 4:30 p.m., Monday through Friday.
Superintendent Lawsky urged homeowners to be wary of mortgage rescue scams, which may be marketed by private businesses.
"Beware of anyone who asks for an upfront fee in exchange for getting you a loan modification, saving your home from default or stopping a foreclosure or tax sale. New York law prohibits the collection of such fees in most cases. Also, many not-for-profit housing counselors will help you negotiate with your lender for free," Superintendent Lawsky said.
"Beware of anyone who says they can save your home if you sign or transfer the deed to your house over to them so you can catch up on your mortgage payments or refinance your loan. Never submit your mortgage payments to anyone other than your mortgage company without its approval."
The Department plans on sending foreclosure prevention specialists to assist homeowners at sites across the state, particularly where there are high concentrations of homeowners in or at risk of foreclosure. The Department’s foreclosure prevention initiative was launched in February and has visited numerous locations as part of its citizen outreach effort.