NY homeowners get some help against foreclosure

NY initiative starting to give homeowners legal advice, counseling against foreclosure

Associated Press

BUFFALO, N.Y. (AP) -- The New York attorney general says the $60 million initiative to provide counseling and legal services to homeowners at risk of foreclosure reached 3,600 in the first three months including 547 in the Buffalo and Niagara Falls region.

According to the Federal Reserve Bank of New York, 4,245 loans are in foreclosure and 7,592 are 90 or more days delinquent in the Buffalo/Niagara region.

Attorney General Eric Schneiderman says the region's numbers are troubling, and his office has established a statewide hotline at 1-855-HOME-456 that homeowners can call.

Seven organizations in the region are sharing $1.1 million in the initiative.

Of the 547 getting legal help or counseling, 223 are already in active negotiations or have been formally offered loan modifications.

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