MARCELLINO TO HOST PROGRAM TO STEM FORECLOSURES

Foreclosure Prevention Specialists Available to meet Homeowners

11 a.m. to 7 p.m., Friday, April 20th in South Huntington

Senator Carl L. Marcellino and the Department of Financial Services will hold an open program to assist and advise those with distressed mortgages. 

Foreclosure Prevention Specialists will meet with homeowners already in foreclosure and those at risk of foreclosure from 11 a.m. to 7 p.m., Friday, April 20^th at the South Huntington Public Library, 145 Pidgeon Hill Road, Huntington Station. No appointments are necessary.

Senator Marcellino urges residents not to wait until the Bank is at your door. It is essential to ask for help as quickly as possible if you are under pressure or think you soon will be.  The earlier you seek help the more options will be available for you.  

 “Families that are struggling to stay in their homes need to know there are services available to help them, Connecting them with the most up-to-date information and helping them navigate their options is essential in keeping our communities strong and our economic recovery moving forward,” said Senator Marcellino “I thank the Department of Financial Services for partnering with me to offer this important service to local residents.”

Foreclosure prevention specialists will meet with homeowners to assess where they are in the pre-foreclosure or foreclosure process and provide:

 ·         Information to homeowners about specific loan modification programs which may be available to them;

·         Guidance to homeowners on how they can file complaints with the Department so that cases of lender or mortgage servicer abuses, such as predatory lending practices, can be investigated.

The foreclosure prevention specialists will meet with homeowners inside the Department’s Mobile Command Center.  Homeowners should bring with them any documents relevant to their individual situations, such as records of mortgage payments or letters to them from lenders or mortgage servicers.

Benjamin Lawsky, Superintendent of Financial Services, cautioned homeowners to “Beware of anyone who asks for an upfront fee in exchange for getting you a loan modification, saving your home from default or stopping a foreclosure or tax sale. New York law prohibits the collection of such fees in most cases.”  He added, “Beware of anyone who says they can save your home if you sign or transfer the deed to your house over to them so you can catch up on your mortgage payments or refinance your loan. Never submit your mortgage payments to anyone other than your mortgage company without its approval.”

Additional information may be obtained by calling the Department’s toll-free foreclosure hotline, 1-800-269-0990 or 518-457-1654, from 8:30 a.m. to 4:30 p.m., Monday through Friday or by visiting the Department’s website at, www.dfs.ny.gov.