Comptroller Bill Thompson announced that the city has set up a hotline for homeowners facing foreclosure. The line will refer callers to community organizations that can assist with managing mortgage payments. Foreclosures are on the rise in the city; more than 15,000 filings are expected this year. “Many homeowners around New York City may be facing foreclosure of their homes as a result of growing subprime sales in recent years,” Thompson said in a statement. more [Crain’s]
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NYC foreclosure hotline set up
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