Unfortunately, it's kind of grim," says Blanca Lopez of Port Chester "We know in the long run these people are not going to be able to afford their homes."
PortChest...@gmail.com
Creditors are going to court to foreclose in sharply higher numbers in
the Lower Hudson.Read More
STORY:
National problems with the subprime mortgage market are surfacing in
the Lower Hudson Valley, as creditors go to court to foreclose in
sharply higher numbers this year, a survey of county clerks' offices
shows.
Mortgage counselors in the region say calls for their help are up as
well, as homeowners who are behind on monthly payments scramble for
ways to save their houses.
The prospects aren't good, some counselors say. Though there are some
new programs to help borrowers looking to refinance, the programs have
limits on how much money may be available. In many cases, it's less
than what the borrowers need.
"Unfortunately, it's kind of grim," said Blanca Lopez, director of
Port Chester-based Human Development Services of Westchester. "We know
in the long run these people are not going to be able to afford their
homes." .......
Source: The Journal News
Publication Date: September 15, 2007
Reporter: Jerry Gleeson at jgle...@lohud.com or 914-694-5026.
Source URL: http://www.nyjournalnews.com/apps/pbcs.dll/article?AID=/20070915/NEWS01/709150364
Alternate Link: http://portchesterroundup.blogspot.com/2007/09/091507-unfortunately-its-kind-of-grim.html