The New York Times Subprime Neediest Cases Program
The New York Times Neediest Cases Fund has implemented a special initiative for victims of the subprime mortgage crisis - The Subprime Neediest Cases Program. The program is designed to provide financial assistance to affected families and individuals in the tri-state area, helping them secure stable and affordable housing. Eligible families who are losing their homes as a result of predatory practices can receive up to $10,000 in financial support for relocation or home retention. Basic eligibility criteria for assistance include the following:
- Applicants include modest and low-income families and individuals who are losing their homes as a result of subprime mortgage issues, including renters leasing apartments in multi-family houses that are in foreclosure.
- Individuals/families must have income to sustain the financial obligations of the current or new dwelling.
- All applicants are screened by partner agencies with expertise in subprime lending.
- Mortgage arrears
- Down payments for loan modifications
- Utility arrears relating to subprime mortgages
Relocation costs including:
- First month’s rent
- Security deposit
- Broker fee
- Moving/storage costs
Please click on the link below to see our flyer which includes a list of our partnering agencies and foreclosure prevention organizations in New York City.