NY, Foreclosure Settlement Conference

[noonereal]

Last year NYS passed legislation aimed at stabilizing the devastating effect of the unprecedented spike in foreclosures. The idea was to compel the banks to work with people who were victimized by sub prime loans.

The results are as effective as The Homeowner Stability Initiative (HSI) passed last year by Congress.


Of 795 conferences that were tracked that took place in Brooklyn, Queens, the Bronx and Staten Island true settlements were reached in only 1.5% of the conferences.


BTW be confident that this latest piece of legislation from Congress in the form of credit card reform will be equally as meaningful.