Governor Andrew M. Cuomo today announced that the Department of Financial Services is reaching out to help Monroe County homeowners struggling to save their homes from foreclosure.

Department representatives will be available to meet homeowners from 10 a.m. to 4 p.m., Friday, Sept. 7 at Penfield Town Hall, 3100 Atlantic Ave., Penfield, in the Department of Financial Services’ Mobile Command Center (MCC).

Governor Cuomo said "It is essential that we provide as much help as possible to financially-troubled homeowners. The 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."

Governor Cuomo directed the Department of Financial Services (DFS) to launch the foreclosure prevention program in January as a means of extending help to homeowners in foreclosure or at risk of foreclosure. Since then, the program has visited more than a dozen sites with high foreclosure rates throughout the state.

Benjamin M. Lawsky, Superintendent of Financial Services, said: “It’s important that homeowners who start to see financial problems know that there are more options available to them if they act sooner, rather than later. The foreclosure prevention program allows homeowners to meet one-on-one with foreclosure prevention specialists who are knowledgeable and can offer practical guidance.”

Assemblyman Sean T. Hanna said: "Owning a home is the American dream. When hard times jeopardize homeownership, too many people ignore the problems. This event will give struggling homeowners both an opportunity to help themselves and a vehicle for doing so."

Assemblyman Mark Johns said: “As a member of the Assembly’s Housing Committee, it is vital that New York State provides as much assistance as possible to homeowners – especially those dealing with financial problems. This program allows troubled homeowners the opportunity to meet with foreclosure prevention specialists so that they can go forward with the American dream of homeownership.”

State Resources Available to Homeowners

The state’s foreclosure prevention program enables homeowners to have confidential meetings with DFS representatives who assess where homeowners are in the pre-foreclosure or foreclosure process. Depending on individuals’ specific situations, the specialists may offer homeowners assistance in such areas as:

• Applying for mortgage modifications or providing help to homeowners who have already sought mortgage modifications.
• Interceding on behalf of homeowners with their mortgage lenders or servicers.
• Assisting homeowners in communicating with mortgage lenders or servicers.
• Accepting complaints from homeowners who believe they were victimized by mortgage lending abuses, so complaints can be investigated by the Department.

U.S. Housing and Urban Development (HUD) approved housing counselors will also be available to offer assistance to homeowners.

Homeowners may also file complaints using the DFS online Consumer Complaint Portal. Also, information may be obtained by calling the DFS toll-free foreclosure hotline at (800) 342-3736 from 8:30 a.m. to 4:30 p.m., Monday through Friday.

The Department urged homeowners to be wary of mortgage rescue scams, which may be marketed by private businesses. For example, the Department said homeowners should:

• Be wary of anyone asking for an upfront fee in exchange for getting a loan modification, saving a 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 homeowners negotiate with lenders for free.
• Be wary of anyone who says they can save a home if a homeowner signs or transfers the deed to his or her house over to them so the homeowner can catch up on mortgage payments or refinance a loan. A homeowner should never submit mortgage payments to anyone other than the homeowner’s mortgage company without its approval.