Monday, January 12, 2015

NEW YORK STATE MORTGAGE ASSISTANCE PROGRAM

Today Newsday reported on some first loan closings made under the program

http://www.newsday.com/news/mortgage-program-offers-struggling-homeowners-fresh-start-1.9795688

According to the article:

"The state received 146 applications for the loan program in just over three months -- 41 from Long Island. Twenty-six loans have been approved since mid-November. Applicants are eligible for up to $40,000, according to the statement."

In my view, a very small amount - it would appear that the program is not aimed at the majority of homeowners who are in foreclosure due to "unaffordable housing".

A link to the program's website is below:

http://nysmap.org/

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