Free  Personal  Search  Engines
WASHINGTON, D.C. – June 3, 2013 – (RealEstateRama) — BROOKLYN, NY – Today, Representative Yvette D. Clarke released the following statement after the Department of the Treasury and the Department of Housing and Urban Development announced an extension of the Making Home Affordable Program through December 31, 2015.
“We have a responsibility to protect our communities from the threat of foreclosure,” said Representative Clarke. “In addition to the families that are displaced, foreclosure also harms other residents of the neighborhood by reducing property values and preventing the recovery of the market in houses.”
Since the program was introduced in 2009, almost 1.3 million homeowners have received assistance, such as the modification of their mortgages to reduce their monthly payment and prevent foreclosure. Modifications under this program have a much lower rate of delinquency and re-default, compared with modifications by banks and other private lenders.
In addition, the program includes several important protections for homeowners, such as a requirement that lenders inform families about options for modification before referring the mortgage for foreclosure.
U.S. Representative Yvette D. Clarke is a member of the House Committee on Small Business, where she is the Ranking Member of the Subcommittee on Investigations, Oversight, and Regulations; Ethics; and Homeland Security, where she is the Ranking Member of the Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies. She represents several neighborhoods in central and southern Brooklyn, NY which includes Brownsville, Crown Heights, East Flatbush, Flatbush, Gerritsen Beach, Madison, Midwood, Ocean Hill, parts of Park Slope and Flatlands, Prospect Heights, Prospect-Lefferts Gardens, Sheepshead Bay, and Windsor Terrace.
No related posts.
- At Gillibrand & Schumer’s Urging, Feds Lift Restrictions for Hundreds of Sandy Homeowners Currently Disqualified for Disaster Aid
- Bellone, Krupski, LaValle and Riverhead Officials Announce Support for Continued Downtown Revitalization of Riverhead
- Workers at High Line Luxury Buildings Tell Management: New York Shouldn’t Just Be Livable for the 1%
- HPD, HDC & NYCHA Join SKA Marin and Partners to Celebrate the Ribbon-Cutting for New Affordable Senior Housing in Brooklyn
- Governor Cuomo Announces Major Project to Upgrade Storm Protections for Howard Beach, Queens
- Mangano Announces Warmbed Emergency Winter Shelter Program
- NYCOM Conference, Ribbon Cuttings and Equity Fund Forum Highlight Trip to Finger Lakes Region
- CKX Declares December 31st Record Date for Dividend of FX Real Estate and Entertainment Shares
- Jones Lang LaSalle Hires Seasoned Industrial Real Estate Professionals to Strengthen Client Services in Long Island
- First Affordable Housing Development in Brooklyn with Solar Panels
- “Green” Forum Highlights 545 Madison Avenue as Showcase of Sustainability
- New York State Senate Confirms Bill Myers to the Board of the State of New York Mortgage Agency
- New York State home sales continue to post gains compared to 2009
- Gillibrand Introduces Solar Energy Legislation
- HDC Board Approves $55.5 Million in Tax-Exempt Multi-family Housing Revenue Bonds
- Diversity Works’ Unique Model Combines Permanent Supportive Housing and Family Preservation Services