Increase Of Area Foreclosures Is Main Topic At Civic Meeting
By Debbie Cohen

Foreclosures are on the increase in Canarsie, East New York and Brownsville, according to Senator John Sampson. Sampson discussed this issue at last week's Informed Voices Civic Association meeting along with Loan Advisor Ali Mubashir and Branch Manager Slater Alleyne, both from GreenPoint Mortgage, which is part of North Fork Bank, located on Rockaway Parkway in Canarsie.

"Canarsie has one of the highest rates of foreclosures in Brooklyn," Sampson said. "People are not preparing themselves financially. You have to be able to pay your mortgage when preparing yourself for the future."

Mubashir agreed that there were multiple foreclosures in the area over the last year. "We would like to turn this around." According to Mubashir, North Fork Bank has over $60 billion in assets, with banks all over the New York area. He said that GreenPoint Mortgage is a subsidiary of North Fork and is one of the largest lenders in the country. "We have varied products, such as: jumbo loans, investment properties and first time home buyer programs. We are very competitive and offer 3-point mortgages."

New mediums in banking are also available with North Fork, Mubashir said. Commerce banking (internet banking) is the wave of the future, he said. He said higher interest rates are given on CD's and money market funds.

In addition, Wanda Ihrig, president of the civic association said that during this holiday season we must guard against identity theft and home invasions. She said that the 69th Precinct will be conducting home security surveys and they will be checking lighting, the alarm system, timers and overall safety of your home. You can call the precinct at: 718-257-6205.

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