Thursday, December 25, 2014


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Lawmaker Pushes for State to Extend Foreclosure Protections

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TWC News: Lawmaker Pushes to Extend Foreclosure Protections in State
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A local lawmaker is pushing to extend foreclosure protections in the state as a new report shows that the city's foreclosures overwhelmingly come from minority neighborhoods.

State Senator Jeff Klein is calling for the law, which expires in early 2015, to be renewed to 2020.

The law originally went into effect in 2009 and requires lenders to give 90 day pre-foreclosure notice.

It also mandates a face-to-face meeting to give homeowners information about how long they have been in default, how much they owe and the deadline for their payment.

Klein also released a report showing that 80 percent of pre-foreclosures in the city coming from minority neighborhoods.

The inequality was particularly bad in the Bronx and Queens, with 93 percent coming from those areas. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP