The Real Deal New York

Funding for a statewide network of housing nonprofits could soon end

Money stream from 2012 National Mortgage Settlement is set to sunset next month
February 25, 2019 10:00AM

Governor Andrew Cuomo and a house for sale (Credit: Getty Images and Pixabay)

A network of about 90 nonprofits that help homeowners across New York state could run out of funding at the end of March.

The $176 billion executive budget from Gov. Andrew Cuomo does not replace a funding stream for the nonprofits from the 2012 National Mortgage Settlement that ends next month, according to the New York Post. The organizations are calling on the governor to include $20 million in the final budget to support housing counseling and legal services.

Roughly 30 local nonprofits have worked with 33,600 homeowners since 2007 on issues such as foreclosure prevention. The funding push is said to have support in the state legislature, and affordable rental units comprise many of the homes at risk of getting lost to foreclosure.

A spokesman for the New York State Division of the Budget told the Post that it is continuing to hold talks with the attorney general’s office, which has previously funded these programs. [NYP] – Eddie Small