Photo credit: Marla S. Maritzer.

New York City Comptroller William C. Thompson, Jr., as part of his ongoing “Save Our Homes” initiative, hosted a free mortgage counseling and foreclosure clinic on November 15th at Lehman College on Saturday, November 15, 2008.

In an effort to help residents of the Bronx remain in their homes and prevent foreclosure, New York City Comptroller William C. Thompson, Jr. hosted a “Save Our Homes” initiative this past Saturday at Lehman College. More than 100 people attended the daylong event.

“While we have seen a decrease in the numbers of foreclosures in the Bronx, we must do all we can to aid those currently in danger of losing their homes,” Thompson said.  “We will continue to work with all affected by this crisis to ensure they are afforded every option possible.”

The Bronx outperformed most of the City regarding the amount of homes currently in the foreclosure stage.  New York City, as a whole, saw a 53% increase in the number of homes at the final stage of foreclosure (383) in August 2008, compared to a year ago (250).  However, the Bronx saw a drop of 41% in the past year (41 in August 2007 compared with 24 in August 2008) according to PropertyShark.com.

The free event provided homeowners with the opportunity to meet with financial servicers and learn ways to avoid foreclosure.  If an attendee’s servicer was not present at the event, the Comptroller’s Office will conduct outreach on behalf of that individual to facilitate communications between the two parties.  In addition, trained staffers from the Comptroller’s Office, non-profit groups, and legal service organizations were on hand to offer advice to attendees.

“We see that more than fifty percent of people who enter foreclosure do so because they do not know where to turn,” Thompson said.  “By bringing people face-to-face with financial servicers, we can create a dialogue between the parties and bring everybody one step closer to a solution.”

Last month, the Comptroller released a revised job-loss forecast which stated that New York City could lose more than 165,000 jobs over the next two years. In addition, recent reports indicate that more families are becoming homeless as they face economic pressure and struggle with foreclosure. 

Thompson has been at the forefront in working to help New Yorkers address foreclosure and acquire better financial skills. A year and a half ago, he launched a Foreclosure Prevention Helpline at (212) 669-4600. That Helpline has received more than 3,670 calls; 1,523 cases currently are open. A breakdown of cases follows:
  
Queens                        481                              31.58%
Brooklyn                      374                              24.56%
Bronx                          196                              12.87%
Staten Island               145                               9.52%
Manhattan                    33                                2.17%
Outside NYC               294                              19.30%

TOTAL                        1,523                           100%

Additionally, the Comptroller recently published on his Web site – www.comptroller.nyc.gov – maps that show pockets of foreclosures throughout New York City. The maps illustrate that many foreclosures occur in areas that do not have adequate banking services.

“It is imperative that we provide the necessary financial assistance to those who need it,” Thompson said. “I encourage all to attend this event. Whether you are facing foreclosure or not, the services available are for everyone’s benefit.”

This is the third foreclosure clinic Thompson has held in recent weeks.  Others were held in Queens and Staten Island.  On Saturday, December 6th, Thompson will host another event at Nazareth Regional High School in Brooklyn.

So far, hundreds of New Yorkers have taken advantage of the services provided by the Comptroller’s Office. 

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