Avert
Foreclosures
Dear Editor:
Millions of Americans have lost their homes, and
Queens has felt the full scourge of the foreclosure
crisis. We
rank very high in the list of foreclosure capitals of the
USA. One in nine
homeowners in
Queens is
currently delinquent 90 days or more on their mortgage, or is in
foreclosure.
The attorney general’s office and
community-based organizations, such as Queens Legal Services
and
Neighborhood Housing Services of Northern Queens provide advice
and assistance to
homeowners facing potential
foreclosure, but much more time and resources must be dedicated
exclusively to preserving the American Dream of home ownership
from all levels of government city, state and federal. We
need all hands on deck.
Moreover, funding for
the state’s $25 million Foreclosure Prevention Services Program
expires at the end of the year, and Gov. Cuomo must continue
funding this program that provides homeowners with counseling,
legal assistance and help negotiating with banks. The fact that
housing counseling increases the likelihood that homeowners will
be granted a loan modification by 200 percent, and that counseled
borrowers will receive more favorable terms on their loan
modifications, including lower monthly payments, is confirmed in
many studies.
Similarly, legal
representation at the mandatory settlement conferences helps to
level the playing field for homeowners. The banks they are
negotiating with are always represented by an attorney, and
resources must be allocated to ensure that homeowners have
mandatory legal representation to achieve the best possible
outcome.
The economic and
social impact of foreclosed and abandoned homes is ravaging and
devastating on communities. Crime and social evils increase, while
public safety, tax revenues and home values correspondingly
decrease. Charity begins at home. Foreclosure prevention helps
save money, keeps families together and preserves the pristine
beauty of our communities.
Albert Baldeo
Ozone
Park
LINKS:
Queens Chronicle
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