eric 01$100M boost announced for foreclosure prevention

 

This is a lohud.com article.

 

The expansion is funded by a recent settlement with Goldman Sachs.

State Attorney General Eric Schneiderman today announced a $100 million expansion in no-interest loans to help New York families avoid foreclosure and stay in their homes.

The expansion to the state Mortgage Assistance Program (MAP) is funded by the recent Schneiderman-led settlement with Goldman Sachs over the bank’s deceptive practices leading up to the financial crisis. It is expected to help more than 3,000 families across the state pay off small debts — such as missed mortgage payments or unpaid property tax bills — that are preventing them from securing a needed mortgage modification.

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