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Resources to Help Homeowners Avoid Foreclosure

Government and Nonprofit Resources

A number of federal, New York State agencies and nonprofit organizations have developed foreclosure prevention programs to help homeowners who are having trouble with their home loans. Listed below New York residents will find a list of organization that offer free or low-cost foreclosure prevention programs to eligible homeowners.

U.S. Department of Housing and Urban Development (HUD)

HUD provides a variety of resources for homeowners at risk of foreclosure. The Department funds free housing counseling services throughout the country. HUD-approved counselors can help homeowners understand the law and their options when facing foreclosure, organize their finances, and represent borrowers in negotiations with their lenders if their assistance in needed. Click here for a list of HUD-approved housing counseling agencies in Brooklyn, New York.

For additional HUD resources for avoiding foreclosure, click here.

New York State Attorney General's Office

Homeowners who suspect that they have been a victim of fraud, misleading information or other deceptive practices, should contact the New York State Attorney General's Office. The office investigates complaints and had has the power to sue lenders and other mortgage originators for alleged illegal behavior.

New York State Attorney General's Office:
Department of Law- The Capitol, 2nd Floor, Albany, NY 12224

New York State Housing Finance Agency

The New York State Housing Finance Agency administers a wide range of affordable housing and community development programs. The NYS Housing Finance Agency has partnered with other entities (including nonprofit counseling agencies, local governments, state housing department and lenders) to provide comprehensive foreclosure prevention and mitigation strategies.

New York City Housing Development Corporation

New York State Division of Housing and Community Renewal

New York State Housing Finance Agency/State of New York Mortgage Agency

NeighborWorks

NeighborWorks is a national network of more than 240 community-based nonprofit organizations (located in 50 states) created by Congress to provide financial support, technical assistance, and training for community revitalization efforts. NeighborWorks provides a variety of resources for preserving homeownership in the face of rising foreclosure rates including HOPE for homeowners. HOPE is a toll-free national hotline that offers free foreclosure prevention and counseling advice from a third-party, HUD certified, not-for-profit network of counseling agencies dedicated to helping homeowners avoid foreclosures. NeighborWorks has teamed up with the Homeownership Preservation Foundation and the Financial Services Roundtable to provide this service.

HOPE for Homeownership Hotline (English and Spanish): 1-888-995-HOPE
HUD-certified NeighborWorks organizations in Brooklyn, New York:

For HUD-certified NeighborWorks organizations throughout New York City, click here.

For information on the Center for Foreclosure Solutions, click here.

National Community Reinvestment Coalition (NCRC)

NCRC is a national coalition of more than 800 non-profit organizations that seeks to increase the flow of private capital into underserved communities. NCRC's Consumer Rescue Fund works with victims of predatory lending to provide mediation, refinancing or negotiation of mortgages. Refinancing services are currently available in the state of New York.

NCRC's Information and CRF Services Line: 202-628-8866

National Council of LaRaza (NCLR)

NCLR is the largest national Hispanic civil rights and advocacy organization in the United States. NCLR's Homeownership Network of 42-community based organizations provides home ownership counseling and can intervene between borrowers facing financial crisis and the lenders and /or mortgage servicer.

Contact NCLR: 202-785-1670

Cypress Hills Local Development Corporation
625 Jamaica Avenue
Brooklyn, New York 11208-1203
Phone: (718)706-3729
Fax: (718)647-2805

Neighborhood Assistance Corporation of America (NACA)

NACA is a national non-profit advocacy and homeownership organization. NACA's Refinance Program offers new loans to eligible homeowners with unaffordable mortgages. NACA's Home Safe program provides counseling and financial assistance to eligible homeowners who are at risk of foreclosure.

NACA's Information and Refinancing Services line: 1-888-302-NACA

Government Sponsored Enterprise Resources

GSEs also provide resources for residents at risk of or facing foreclosure.

Fannie Mae

Fannie Mae and the Obama administration's, Making Home Affordable program provides flexible mortgage products that help homeowners with blemished credit histories refinance as well as offers counseling and foreclosure prevention services. In addition, Fannie Mae has worked with New York state housing agencies to develop refinancing programs to assist homeowners who are facing foreclosure or have a mortgage product that may no longer be suitable to their financial situation.

Freddie Mac

Freddie Mac helped to develop and fund, Don't Borrow Trouble, a comprehensive consumer awareness and foreclosure prevention campaign. In addition, Freddie Mac has partnered with national non-profit organizations, counseling agencies and several lenders on a foreclosure-avoidance initiative designed to reach out to newly delinquent borrowers--to provide appropriate counseling through trusted intermediaries on avoiding foreclosure.

In New York City, if you think you are a victim of predatory lending you can contact PACE, the New York City Anti-Predatory Lending Initiative, at 311.

Legal Resources

In addition to the resources above, you might want an attorney to help you navigate.

National Association of Consumer Advocates

The National Association of Consumer Advocates (NACA) is a nationwide organization of more than 1000 attorneys who represent and have represented hundreds of thousands of consumers victimized by fraudulent, abusive and predatory business practices. NACA attorneys have represented thousands of victims of predatory lending practices. The legal services are provided by legal service lawyers and private practice attorneys who provide free or low-cost legal representation.