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04/14/11

Foreclosure Prevention Aid Loses Funding

Housing advocates had hoped for as much as $15 million in state funding for the Foreclosure Prevention Services Program. Cuomo, who has won praise for working to control state spending, this week nixed $1.5 million placed in the $132.5 billion budget by the Democrats in control of the Assembly.

That move has housing groups scrambling to line up new funding sources. But they fear they'll have to turn away homeowners in dire need of assistance.

"It's hard to say to people, 'We can't help you anymore,'" said Louise McNeilly, coordinator of the Capital Region's HomeSave Coalition. "This is a big hit."


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