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Nutter Gets Props From NYC for Foreclosure Program

Here's the release.


So far 1,200 homes saved, with a further 1,500 in negotiation

Philadelphia, June 11 – Mayor Michael A. Nutter joined New York Mayor Michael R. Bloomberg today as Mayor Bloomberg announced his plan to help New Yorkers avoid mortgage foreclosure, a plan modeled on the Philadelphia Mortgage Foreclosure Protection Plan.

"Through an extensive public information campaign and requiring lenders to negotiate settlements in good faith, we have helped over 1,200 individuals and families in Philadelphia stay in their homes," said Mayor Nutter. "Mayor's Bloomberg's approach of bringing both homeowners and lenders to the table is absolutely the right combination to address this problem,"

"As cities across the country seek innovative ways to address the foreclosure crisis, many are looking to Philadelphia, where Mayor Nutter has implemented some of the most effective," said Mayor Michael R. Bloomberg. "In New York City, we've made great strides helping at-risk homeowners avoid foreclosure by providing free legal and financial counseling. As we continue to expand our programs, we will work with Mayor Nutter and other leaders on the issue to implement best practices and help more New Yorkers keep their homes."

The Philadelphia plan, launched in June 2008, involves door-to-door outreach, visiting homeowners whose homes are slated for foreclosure, to inform them of housing and legal counseling available to them. Through this program:

5,200 households slated for foreclosure
Over 4,000 visited by outreach teams
3,380 homeowners took part in the program
1,200 homes have been saved and a further 1,500 are in negotiation

Mayor Bloomberg announced a new public campaign to help more New Yorkers get the free legal assistance, mortgage counseling and education services available through the Center for NYC Neighborhoods. He also urged lawmakers to reform New York State's current anti-foreclosure measures to include stronger provisions requiring mandatory settlement conferences between lenders and homeowners like those that have proven effective in Philadelphia.

Mayor Nutter also took part in a conference call hosted by the U.S. Conference of Mayors and ACORN to talk about steps that are being taken by cities across the country to tackle the issue of mortgage foreclosure.