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March 27, 2008

Congresswoman Velázquez Brings Expert Advice to New Yorkers on Housing and Mortgage Issues

BROOKLYN, NY — Rep. Nydia Velázquez yesterday evening hosted an information fair titled “Saving Our Community One Home at a Time.” Housing and legal service counselors joined representatives from city, state and federal housing and mortgage agencies to offer workshops and one-on-one consultations on topics such as home loan refinancing. The forum, held in Bushwick, empowered families with information that will help them weather trends in the real estate market.

“If you are a current homeowner or are thinking about purchasing a home, you need to know your rights and what assistance is available to help you make the correct decisions,” said Congresswoman Velázquez. “That’s what today’s forum is all about. It offers attendees an opportunity to get clear answers and objective advice from experts.”

Over the past decade, New York City has seen a sharp increase in the rate of home ownership. Unfortunately—in the City and across the nation—that positive trend has been undermined by unscrupulous lending practices. Today, New York is experiencing the same economic downturn felt by all Americans, leaving many in the Big Apple looking for assistance without knowing where to turn.

“I remain committed to arming New Yorkers with facts and expanded access to practical resources,” said Congresswoman Velázquez, who is New York City’s senior Member on the U.S. House Subcommittee on Housing and Community Opportunity. “It is crucial for homeowners to understand they have options and that foreclosure is not the answer. Our City’s housing market is strong. With informed and timely action, it will continue to grow.”

The event featured information (in both English and Spanish) from a wide range of organizations, including:

  • ACORN Housing Corporation
  • Brooklyn Cooperative Federal Credit Union
  • Brooklyn Legal Services Corporation
  • Countrywide
  • Cypress Hills Local Development Corporation
  • Department of Housing and Urban Development
  • Erasmus Neighborhood Federation
  • Fannie Mae
  • Freddie Mac
  • Greater Ridgewood Restoration Corporation
  • Legal Aid Society
  • Neighborhood Housing Services of Bedford-Stuyvesant
  • NYS Banking Department
  • NYS Attorney General
  • Parodneck Foundation
  • Pratt Area Community Council
  • South Brooklyn Legal Services