Bloomberg Announces New NYC Initiative to Prevent Mortgage Foreclosures

Mayor Bloomberg announced a new non-profit organization, the Center for NYC Neighborhoods, which will reduce the risk of foreclosure for NYC homeowners though a variety of services.

“Thanks to the Center for NYC Neighborhoods, many worried homeowners will sleep more soundly because their most important asset will be protected,” said Mayor Bloomberg. “Homeownership hasn’t only been a path to building wealth and achieving the American dream, for cities like ours, increased rates of homeownership have meant stronger, thriving communities. By helping homeowners and potential homeowners navigate the world of sub-prime loans, we are helping New York to continue to grow and prosper.”