Help for Sandy victims facing foreclosure

Because so many homeowners affected by Hurricane Sandy are still waiting for funds from the Federal Emergency Management Agency (FEMA) and New York Rising, and as a result are now facing foreclosure, Assemblyman Brian Curran has introduced legislation to provide more time to receive their entitled funds during foreclosure proceedings. Curran submitted this legislation because both programs have taken too long to provide initial, necessary or adequate awards to homeowners looking to rebuild their homes.

“If these families received the necessary and adequate funds for rebuilding their homes in the first place, their properties wouldn’t be foreclosed on,” Curran said, “Our homeowners simply need more time to appeal the original receipt of funds.” He noted that in far too many cases the original funds received were wrong or inadequate necessitating an appeal process, which can be lengthy. “The bureaucracy and red-tape in this process is drastically failing our Long Island families who are certainly not at fault for the act of nature that destroyed their livelihoods. This legislation will give them more time to acquire the funds they require.”

The legislation allows an eligible homeowner to make an application to the court that has jurisdiction on their case, and ask for a temporary stay in the foreclosure proceeding for no more than 36 months. The granting of that request will be at the discretion of the court. Meanwhile the homeowner is still responsible for all taxes and fees during the stay, and must maintain the property.