New York City homeowners who worry about the possibility of foreclosure can take action. Don't lose your home without a fight. In the state of New York, the average foreclosure takes up to 15 months, which is longer than most states according to RealtyTrac. Utilize this time to seek state federal and local assistance to save your New York City home.
Counseling
Homeowners can contact a housing counselor to explore solutions, including a loan modification or refinance through the federal Making Home Affordable program. Counselors have extensive knowledge of the various assistance programs available to New York City homeowners and the requirements that you must meet. A counselor provides you with free, customized advice and guidance, regardless of the stage you are at in the foreclosure. Harlem Community Development Corporation and Neighborhood Housing Services of New York City are both HUD-approved agencies. To locate additional certified organizations, visit the HUD website.
Community Service Society
Community Service Society is a non-profit organization that provides a variety of services to homeowners. New York City homeowners falling behind on their mortgages can benefit from emergency grants to cover mortgage arrears of up to two months. In addition to financial assistance, CSS partners with local attorneys and counselors to provide free foreclosure information to homeowners who want to learn more about possible solutions, applying for assistance and their rights under New York foreclosure law.
Relocation Assistance Programs
If saving your home is not an option, exiting gracefully can be rewarding. Homeowners who sell the home in a short sale or give up ownership through a deed in lieu of foreclosure, may receive up to $3,000 in relocation assistance from the Home Affordable Foreclosure Alternatives program. Another option is Emergency Relocation Assistance through CSS. The program helps with the first month's rent, security and utility deposits for homeowners in danger of losing their homes. In some cases, the emergency grant will even pay for storage and/or moving fees.
United Way
United Way of New York City offers mortgage help and other services to homeowners in need. Food, clothing, shelter and utility assistance is available to help homeowners who encounter a crisis and have no other options. United Way is a supporter of the Federal Emergency Management Agency's Emergency Food and Shelter Program. Homeowners can receive one month's mortgage payment or utility assistance through the program. United Way can also refer you to organizations and churches if you need additional aid.
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