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Newsday newsday.com 13 Jan, 2022 11:00 am

14,500 LIers behind on mortgages as foreclosure moratorium ends

14,500 LIers behind on mortgages as foreclosure moratorium ends
After offering protection for homeowners for nearly two years, New York state’s moratorium on foreclosures is set to expire Saturday, and data show 14,500 Long Island borrowers are seriously behind on

i pShare Tweet Email After offering protection for homeowners for nearly two years, New York state’s moratorium on foreclosures is set to expire Saturday, and data show 14,500 Long Island borrowers are seriously behind on their mortgages.The Long Island real estate market has been starved for inventory during the pandemic, with strong demand from buyers driving up prices for homes.Even if some Long Islanders are able to avoid foreclosure, forced sales could uproot families and the financial damage resulting from missed mortgage payments could make it hard to find a new place to live on Long Island."Everyone needs to brace for a difficult time for people," said Ian Wilder, executive director of Long Island Housing Services, a Bohemia nonprofit that assists homeowners.

"I hope the federal government will see the program as successful and pour more money into it," Wilder, of Long Island Housing Services, said." The Long Island Housing Partnership, a nonprofit in Hauppauge, hadn’t received many inquiries about the Homeowner Assistance Fund in the first week of January but expected an influx related to the end of the foreclosure moratorium.

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