New York Attorney General Eric Schneiderman’s office is committing $1.3 million to provide counseling and legal help to area homeowners facing foreclosure.
The $1.3 million is marked for eight counseling and four legal-services agencies serving the Rochester area that wrote successful bids for a share of a pot of foreclosure aid money. The foreclosure aid funds come from New York’s share of the $25 billion settlement reached among five major banks, the attorneys general of 49 states and federal authorities over the banks’ alleged mortgage servicing abuses.
The attorney general’s office plans to dispense $60 million in foreclosure aid over the next three years, Schneiderman said. Some of this year’s $20 million foreclosure-aid allotment is marked for the Rochester-based Empire Justice Center to act as an anchor partner to the attorney general’s office in doling out foreclosure aid and providing training on Long Island.
The attorney general’s office earlier pledged $15 million in settlement money to fund the state’s Homeowner Protection Program through Oct. 1. The program funds otherwise would have run out with the start of the state’s new fiscal year April 1. The attorney general’s foreclosure program is slated to replace the state program after the HPP’s money runs out on Oct. 1.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
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