Southern Tier Gets Help Avoiding Foreclosures

New York State Attorney General Eric Schneiderman says more and more homeowners in the Southern Tier who are in danger of falling to foreclosure are getting help from New York State.

In a visit to Binghamton August 13, Schneiderman said the Southern Tier-Monroe region sought help from the state Homeowners Protection Program and State Mortgage Program more than any other area outside of New York City with 3,700 households saved from foreclosure.

Schneiderman says the State Mortgage Program, which is less than a year old, has written $9 million worth of loans in the state with over $2.2 million coming to the Southern Tier.  The A.G. adds over $120,000 in loans were written for Broome County homeowners alone.

The funding for the program comes from about $100 million in a settlement from the banking industry for the 2008 financial meltdown.

Schneiderman says homeowners who are finding difficulty making their mortgage payments can contact his office for information on applying for the programs.