"Thank you! Together, we will preserve the American
Hello everyone! Best Wishes for a Happy Chanukah, Merry Christmas,
Happy Kwanza! Great news! Governor Paterson signed the Mortgage
Foreclosure law we have lobbied for last Tuesday, December
Together, we did it!
Thanks for your support in advocating for it. Special
thanks to the media who joined us in this community effort:
we can keep the American Dream of home ownership alive in our
neighborhoods, and improve on the deeply troubling reality shown
Provided by RealtyTrac.com showing the Top Ten Counties with the
Highest Number of Foreclosures Across NYS from January 1 to
County: 1,469 foreclosures
****New York County reports 1,238
ADDITIONAL STATEWIDE STATISTICS
report from December 2008 predicts that in the next
four years, more than 230,000 additional homes in NYS are expected
to be lost to foreclosure, costing the state’s economy more
Furman Center for Real Estate and Urban Policy reports that in New
York City, the same predominantly minority neighborhoods that saw
the highest rates of subprime lending are now experiencing the
highest rates of foreclosure.
the Center for Responsible Lending, in NYS in 2009-2012, more than
million neighboring homes will experience devaluation meaning a
decrease in house value of around $241,715 and an average decline
home value of $37,649.
ADDITIONAL NATIONWIDE STATISTICS
Nationwide Statistics Provided by
the Center for Responsible Lending from August 2009
Million homes are already lost to foreclosure
Million homes are projected for foreclosure on
all types of loans during the next 5 years
10 homeowners are late on their mortgage.
1 in 5 homes are owned by homeowners who owe more than the
2009, more than 69 Million neighboring homes will lose property
value because of nearby foreclosed homes.
2006 sub-prime loans went to people who could have qualified
for prime loans with better terms.