Community BB: Homeowners Meeting

2007 March 20
by uptownflavor

Planning Meeting for HDFC Shareholders and Homeowners
Wednesday, March 21, at 6:00 pm
Location: Manhattan Community Board 9, 565 West 125th StreetThe New York City Council, supported by your Councilmember, The Honorable Robert Jackson funded a new project to outreach to homeowners to determine if there is aneed for comprehensive assistance to distressed homeowners, HDFC Shareholders and HDFC Cooperatives. The name of the program is the mortgage foreclosure emergency prevention program.

Program Background:

In the current city fiscal year (July 1, 2006 – June 30, 2007), the New York City Council has set aside funds for a program it has named the Mortgage Foreclosure Emergency Prevention Program. The urgency for this program comes from a fear on the part of our local legislative leaders that many low, moderate, working class and middle income homeowners in New York City are at serious risk due to the increased use of “boutique mortgages” that are affordable at the outset but ultimately cause borrowers financial strain, place many homeowners at risk of foreclosure, and result overall in a depletion of wealth in our home-owning communities.

from → Community, Events