NY loans to help homeowners at risk of foreclosure - KMSP-TV

NY loans to help homeowners at risk of foreclosure

Posted: Updated:
New York State News New York State News

ALBANY, N.Y. (AP) - New York's attorney general has announced a new small loan program intended to help homeowners at risk of foreclosure.

Eric Schneiderman announced the new program on Thursday. Called the New York State Mortgage Assistance Program, the initiative is starting on Long Island this September before being opened up to the entire state in October.

Schneiderman says the loans of up to $40,000 are intended to help homeowners pay tax liens, second or third mortgages, or back mortgage payments that have prevented them from being able to refinance their homes.

The Democrat says often homeowners can't modify their mortgage to avoid foreclosure because of a relatively small outstanding debt.

The initiative is patterned after a similar program in New York City.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Long Island NewsLong Island NewsMore>>

  • Speed cameras in LI school zones

    Speed cameras in LI school zones

    Tuesday, September 2 2014 5:49 AM EDT2014-09-02 09:49:32 GMT
    Reminder for drivers that as children head back to school in Nassau County so too, will the speed cameras in school zones. Officials say speed cams will be fully operational at 25 locations this week. That will more than double eventually.
    Reminder for drivers that as children head back to school in Nassau County so too, will the speed cameras in school zones. Officials say speed cams will be fully operational at 25 locations this week. That will more than double eventually.
  • Hope's Land of Candy

    Hope's Land of Candy

    Monday, September 1 2014 8:13 PM EDT2014-09-02 00:13:34 GMT
    Step through the doors of Hope's Land of Candy in Island Park, Long Island and you''ll be taking a trip back in time. There's no WIFI but they do have a Victrola piano. And then there's the candy.. lots and lots of it.
    Step through the doors of Hope's Land of Candy in Island Park, Long Island and you''ll be taking a trip back in time. There's no WIFI but they do have a Victrola piano. And then there's the candy.. lots and lots of it.
  • Celebrity chef Todd English charged with DWI in NY

    Celebrity chef Todd English charged with DWI in NY

    Sunday, August 31 2014 3:17 PM EDT2014-08-31 19:17:03 GMT
    Celebrity chef Todd English has been arrested on a charge of driving while intoxicated in New York.
    Celebrity chef Todd English has been arrested on a charge of driving while intoxicated in New York.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices