About Subprime Foreclosure Prevention Services:

The 2008 NYS Budget included $25 million to help homeowners in NYS, who entered into a subprime or unconventional mortgage, by providing counseling and legal services. A Program was developed and is being administered by the NYS Housing Trust Fund Corporation (HTFC)/Division of Housing and Community Renewal (DHCR), in consultation with the NYS Banking Department and the Office of Court Administration.

On June 18, 2008, DHCR issued a Request for Proposals (RFP) that solicited not-for-profit companies statewide to provide financial counseling, mediation, legal representation, negotiation, and other support services to borrowers who face default or foreclosure. Collaborative proposals by multiple not-for-profit organizations were strongly encouraged to efficiently cover all necessary services.

From August 2008 to February 2009, the HTFC Board awarded 64 grants totaling $23,201,600 to organizations to provide outreach, education, counseling and legal services to homeowners at risk of default or foreclosure for a period of two years. Foreclosure prevention services funded through this program are available in each of the state's 62 counties. Please see the list of program awards including the description of services provided.

In addition to the direct service grants made to not for profits, HTFC has developed a two year training plan to provide foreclosure prevention training to both counseling and legal service providers. NeighborWorks America was contracted to provide training to counselors, and Empire Justice Center is providing training to attorneys. Please see the list of upcoming training opportunities. Training sessions are offered free of charge to any counselor or attorney who is providing free foreclosure prevention services to any New York homeowner facing default or foreclosure.

All 2008 budget funds have been awarded to not for profit organizations or have been committed under the two year training plan, and therefore HTFC is no longer accepting Proposals for funding under the Program.

For Information Please Contact:

Caillin Furnari
(518) 473-8273
CFurnari@nysdhcr.gov