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Fidler Calls Canarsie 'Ground Zero' For NY Mortgage Crisis
Fidler told those at the meeting that mortgage lenders marketed with discriminatory motives against Canarsie residents and currently property values have plummeted, but not property taxes, putting homeowners in a vulnerable position when trying to sell. "It's up to the Federal government to bring these predatory lending companies to justice," the councilman said. "Three years ago I told Brooklyn Family Housing Services that the housing crisis was coming. Homeowners still get a rebate of $400, but Mayor Bloomberg wants to negate it." Pam Glazer, a housing specialist with the city's Department of Housing, Preservation and Development said there are several services in the city to help troubled homeowners facing foreclosure. One is the Commission on Human Rights in downtown Brooklyn, which provides foreclosure prevention counseling. Homeowners can also call 311 for other foreclosure assistance. "There is a high foreclosure rate in Canarsie," Glazer said. "Try to get your bank to change the terms or your mortgage and look into FHA programs and others that your bank can direct you to." Glazer also explained that homeowners could work out a payment plan with the Department of Environmental Protection if they fall behind with water bill payments. She pointed out that if they fail to arrange a plan and do not pay the water bills, a lien could be put on the house. The same could be done for non-payment of real estate taxes. Remax Real Estate Agent Indira Sanders advised homeowners to change from an adjustable mortgage to a fixed one. "With an adjustable mortgage, depending on the market, the rates can skyrocket pushing homeowners to pay hundreds more per month, leading to possible foreclosure," she said. FUBA president Gardy Brazela said homeowners should make sure their tenants promptly pay the rent. If not, he said, it could add to foreclosure problems. "Real estate prices were rising until last year," Fidler said. "Now we are paying the price because of these unscrupulous lenders."
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