New State Program Buys Mortgages to Help Homeowners Avoid Foreclosure


The state is stepping in to help 203 Long Island households facing foreclosure in a new way to combat zombie properties. Under the program, the state essentially [buys the property and] becomes the lender, providing homeowners with more latitude to continue paying a mortgage that they found to be unaffordable under traditional banking practices. The program also provides funding to repair homes.

Learn more about this New York State foreclosure-prevention program.

Related Post: Zombie foreclosures explained.

P.S.: We’re always seeking personal stories of foreclosure.

If you have one that you’d like to share about going through the process, life after foreclosure, or anything related, send it in [].

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