New York Attorney General Eric T. Schneiderman s Homeownership - - PowerPoint PPT Presentation

A Report on the Third Year of New York Attorney General Eric T. Schneiderman’s Homeownership Protection Program (HOPP) August 2015

The First Three Years of HOPP

$60 mi million to qualified organizations to provide legal and housing counseling services to homeown wner ers ac across ss New York rk State te. Because of HOPP, 50 50,000 00 New ew Yorkers and their r fa families ies did not have to navigate the treacherous loan modification or foreclosure process alone. To date, almost a th third rd of HOPP clie ients ts are in acti tive e negoti tiati tions for, r, or h r have ve re received ved, , loan an modif ificatio tions. In three years, more than 12 12,000 homeown wner ers have called HOPP’s hotline.

Helping Families Across the State

Source: Urban Institute (2014)

High levels of mortgage distress can have devastating effects on entire communities. In Hempstead, Long Island, for example, nearly 1 in 3 borrowers were 90+ days delinquent on their mortgages.

Long Island Brentwood 1,918 24% Bay Shore 1,832 18% Hempstead 1,616 28% New York City Canarsie (BK) 1,813 14% Cypress Hills (BK) 1,484 24% East New York (BK) 1,388 24% Hudson Valley Newburgh 1,314 16% Middletown 1,300 19% Spring Valley 907 16% Capital Region and Western New York Troy 581 9% Rochester 536 7% Buffalo (Kensington) 526 10%

Hardest Hit Regions

48.5% 48.5%

Pe Perce centage ge

• f
• f HOPP

clien ients self lf-re report t as non- wh white te

13 13,570 70

HOP OPP clien ients ts marri ried d with th de depe pende ndents ts

64.8 4.8%

HOPP clien ients ts self-rep report as below

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Ne New York k State’s medi dian an inc ncome

• me

12 12.19

Avera erage ge num number er of

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years s HOPP clien ients ts report

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ing the their r home

• mes

Who HOPP Helps

HOPP: Looking Ahead

Attorney General Schneiderman has committed to ex expand HOPP for an a an add dditi tional l two ye year ars, ensuring that this assistance will be available through September 2017. OA OAG has as co comm mmitt tted ed an an additi tional al $40 40 mi million n to HOPP and will issue a ne new Request t for r Applica cations for r funding th this ye year ar, bringing the total commitment to the program to $100 million. HOPP’s succes ess would ld no not hav ave been n possi ssible le with thout t th the insp spiri ring comm mmitmen ment of th the hund ndre reds ds of ho housi sing coun unse selors, , lawyer ers, s, and oth ther r profess essional als who ho compose th the net etwork rk. Their hard work cannot be fully captured by any statistic or figure, but their collective wisdom and dedication is the engine that drives HOPP’s success.

HOP OPP P Yea ear r 4

• Housing

using Counseling unseling –Funding and New Grantees –Programming and Training

• Legal

gal Se Services vices – Funding – Programming and Training

• Settlement Conferences
• 90 Pre-Foreclosure Filing Notices
• Zombie Property Legislation
• Statewide registry
• Expedited foreclosure process
• Vacant and Abandoned Properties
• Community Restoration Fund
• Continued Funding

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