New York, NY – December 5, 2008 – (RealEstateRama) – In an effort to help residents of Brooklyn remain in their homes and prevent foreclosure, New York City Comptroller William C. Thompson, Jr. will host his “Save Our Homes” initiative on Saturday, December 6th at Nazareth Regional High School, 475 East 57th Street, from 10 AM – 3PM.
“While we have seen a decrease in the numbers of foreclosures in Brooklyn, we must do all we can to aid those currently in danger of losing their homes,” Comptroller Thompson said. “We will continue to work with all affected by this crisis to ensure they are afforded every option possible.”
New York City, as a whole, saw a 53% increase in the number of homes at the final stage of foreclosure (383) in August 2008, compared to a year ago (250). However, Brooklyn saw a drop of 13% in the past year (52 in August 2007 compared with 45 in August 2008) according to PropertyShark.com.
The free event will provide homeowners with the opportunity to meet with financial servicers and learn ways to avoid foreclosure. If an attendee’s servicer is not present at the event, the Comptroller’s Office will conduct outreach on behalf of that individual to facilitate communications between the two parties. In addition, trained staffers from the Comptroller’s Office, non-profit groups, and legal service organizations will be on hand to offer advice to attendees.
“We see that more than fifty percent of people who enter foreclosure do so because they do not know where to turn,” Thompson said. “By bringing people face-to-face with financial servicers, we can create a dialogue between the parties and bring everybody one step closer to a solution.”
Last month, the Comptroller released a revised job-loss forecast which stated that New York City could lose more than 165,000 jobs over the next two years. In addition, recent reports indicate that more families are becoming homeless as they face economic pressure and struggle with foreclosure.
Thompson has been at the forefront in working to help New Yorkers address foreclosure and acquire better financial skills. A year and a half ago, he launched a Foreclosure Prevention Helpline at (212) 669-4600. That Helpline has received more than 3,900 calls; 1,776 cases currently are open. A breakdown of cases follows:
Queens 633 35.64%
Brooklyn 378 21.28%
Bronx 268 15.09%
Staten Island 146 8.22%
Manhattan 36 2.03%
Outside NYC 315 17.74%TOTAL 1,776 100%
Additionally, the Comptroller recently published on his Web site – www.comptroller.nyc.gov – maps that show pockets of foreclosures throughout New York City. The maps illustrate that many foreclosures occur in areas that do not have adequate banking services.
“It is imperative that we provide the necessary financial assistance to those who need it,” Thompson said. “I encourage all to attend this event. Whether you are facing foreclosure or not, the services available are for everyone’s benefit.”
This is the fourth foreclosure clinic Thompson has held in recent weeks. Others were held in the Bronx, Queens, and Staten Island. So far, hundreds of New Yorkers have taken advantage of the services provided by the Comptroller’s Office.
