Frustrated by the efforts of the federal government, New York City comptroller John C. Liu, pictured left, and six unions will initiate a campaign today to encourage big lenders to increase measures to prevent foreclosures in the New York metropolitan area, according to The New York Times. In a letter drafted by the group, it urges an expedited mortgage modification process and criticizes banks for "unanswered phone calls, delays in the modification process and multiple requests for homeowners to resend paperwork already submitted." Foreclosures Update: New York Urges Banks to Take More Action
By
Alec Foege
| Posted Jul 14th 2010 9:58AM
| Posted Jul 14th 2010 9:58AM
Frustrated by the efforts of the federal government, New York City comptroller John C. Liu, pictured left, and six unions will initiate a campaign today to encourage big lenders to increase measures to prevent foreclosures in the New York metropolitan area, according to The New York Times. In a letter drafted by the group, it urges an expedited mortgage modification process and criticizes banks for "unanswered phone calls, delays in the modification process and multiple requests for homeowners to resend paperwork already submitted." Video
Poll
| Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage. | |
|---|---|
| No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment. | |
| No, I'm holding out for an even better deal. | |
| Nope. It's a renter's life for me. |
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