Thursday, December 6, 2007
The New York Daily News reported on December 6, 2007, about the role of a New York City nonprofit in assisting people suffering from the mortgage crisis. The nonprofit organization, Center for NYC Neighborhoods, is reportedly helping homeowners in renegotiating loans that are in jeopardy of future foreclosure. Because Mayor Bloomberg of New York has "ruled out a city bailout program for homeowners trapped in loans they can't afford," the Center for NYC Neighborhoods and similar nonprofits organizations may be the last resort for some struggling homeowners if state and federal officials do not step in.
To see the full story, "Nonprofit NYC Neighborhoods to Help 14,000 Local Families with Mortgages," go to The New York Daily News website. To see the previous blog posting on nonprofits helping with the mortgage crisis, go to "The Role Nonprofits Are Likely to Play in Resolving the U.S. Mortgage Crises."