Question:
If a person purchased a home within 07, and is now about to go into foreclosure, are there any programs or is there anything HPD can do to help? This applicant is in NYC. The house is in Long Island
Answer:
Call the Mortgage Co. and tell them that you would like to work with them to resolve the situation. If it is a bank that holds the note they are usually willing to work with you because they don't want the hassle of getting rid of the home. Beyond that I'm afraid I don't have much else, since I'm from CA. and am not familiar with the lending laws where you are. If it is in foreclosure due to an adjustable rate loan you may contact the Federal government and inquire about assistance. Due to boom of foreclosures brought about by economic upheaval, they have intervened in some cases. Good luck.
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