A Brief History of the Housing Loan Remediation Program
Several years ago, a Parodneck Foundation staff noticed that an increasing number of SCHAP applicants were ineligible for loans because they were badly in debt and/or their homes were being foreclosed upon. We soon discovered that predatory lenders had been defrauding vulnerable seniors into accepting expensive loans they could not possibly pay back. We worked with South Brooklyn Legal Services (SBLS), Fannie Mae and several NYC banks to help the seniors. The Project arranged to have the debts of individuals who have been victims of predatory lending practices written down (when possible) and restructured into a new, affordable loan, so the danger of default and foreclosure was averted. Through the SCHAP program, we also provide seniors with home improvement loans to carry out necessary repairs.
Housing Counseling Programs
If you’re a New York City homeowner that is behind on your mortgage or struggling to stay current on your payment, The Parodneck Foundation can help. We offer free counseling in the matter of mortgage foreclosure intervention to help you understand and manage alternatives to foreclosure.
Our certified Foreclosure Prevention Counselors will assess your financial situation and develop a comprehensive plan as to what to do next. We will advocate on your behalf to provide the best resolution to your situation, as well as offer guidance in:
- Analysis of your financial situation
- Foreclosure timeline in New York City
- Household budget development
- Debt management
- Alternatives to refinance and modification
We also understand that in the event of a foreclosure, the road is long and stressful - not just for you but for your family as well. You need all the help you can get from experts to formulate a stable financial plan for your family. Our experienced counselors will be delighted to assist in any way we can.
Homeownership Counseling Program
If you’re considering buying a home, several questions probably came to mind. Where should I start? What can I afford? Is homeownership a good option? Where can I get a mortgage? How do I prepare my finances? What type of home is right for me? How do I meet obligations as a homeowner?
These questions only highlight the fact that buying a home is difficult and overwhelming - especially if you’re a first-time buyer. The Parodneck Foundation offers free one-on-one counseling on homeownership to alleviate your worries and help you make informed and proper decisions.
We provide counseling on the following topics:
- First-time down payment & closing cost assistance programs
- Landlord training counseling program
- Mortgage programs and eligibility guidelines