New program will help save homes in New York State

New York State Attorney General Eric Schneiderman has unveiled a new program called NYS-MAP that is designed to help many New Yorkers save their homes from foreclosure. This program will provide loans to eligible homeowners at low rates. The loans can be used for a variety of purposes, including but not limited to reinstating mortgages, payoffs on mortgages, down payments toward modifications or paying off liens that are impeding a mortgage modification.

The program is planned to launch statewide on October 15, 2014. Homeowners must work with a foreclosure professional through the HOPP program in order to be eligible for the program. Legal Services for the Elderly is a qualifying HOPP agency through our partner project, the Foreclosure Prevention Project. If you are in foreclosure and want to learn more about the NYS-MAP, you can contact the project hotline at 1- 855-969-3775.

For more information on the NYS-MAP program, you can visit: www.nysmap.org

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