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NYS Homes and Community Renewal

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Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions
Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions Gov. Andrew Cuomo announced that the state's Community Restoration Fund has purchased 172 mortgages in an effort to bring owners in targeted communities out of foreclosure and keep the homes from abandonment.  According to this article in Daily Voice, foreclosures are at an 11-year high in New York state, while nationwide they are at an 11-year low.  The Community Restoration Fund has helped strengthen the financial position of homeowners, bringing stability back to the housing market in neighborhoods across the state, and preventing so-called "zombie properties," Cuomo said. Thi…

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by Jon Craig