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Comptroller William Thompson spoke passionately Monday night during a foreclosure and consumer banking conference at York College where he vowed to take action and address the current housing mortgage crisis that has gripped homeowners in Queens and around the nation.

Speaking before a packed auditorium, Comptroller Thompson said, “We must work together to help our neighbors in need. Foreclosures not only close the doors of opportunity for countless New Yorkers, but adversely impact our neighborhoods as a whole.”

The event at York College was the fourth in a series of similar conferences held throughout the five boroughs. Earlier conferences were held at Medgar Evers College in Brooklyn, the Schomburg Center in Harlem and Hostos Community College in the Bronx.

The event was co-hosted by several local elected officials including Queens Borough President Helen Marshall and Councilmen Leroy Comrie and James Sanders Jr.
These elected officials rallied together to support those facing this housing crisis that has adversely affected the entire city. The subprime mortgage mess has significantly affected many neighborhoods in Queens, especially in the southeast part of the borough.

Every elected official agreed that taking action is important in solving the mess, but none seem to be advancing any comprehensive reform plan. Councilman Comrie (D-St. Albans) saw his constituents struggle to survive during this crisis. To help homeowners faced with ballooning mortgage payments he passed the buck and said he wants New York State to get behind efforts to curb this problem.

“We are hoping that the state can come up with a plan that can be implemented in the next fiscal year,” he said.
Shirley Hartwell, a longtime Queens resident said she attended the event at York College because she is concerned about how the housing crisis will affect her. She is hoping to buy a home in the borough and wants to be in a position of power as she approaches this volatile market. Realizing the gravity of this situation, she came to educate herself before she attempts to make an offer on a house.

“I came to get information so I will be in a better situation to guard against any mishap,” she said. “People need to get educated about these issues, and I’m here so I can make better financial decisions.”

Queens was hit the hardest of the five boroughs, according to the Web site RealtyTrac. The site recently reported that foreclosures rose 59 percent in 2007, with 11,000 homeowners facing eviction in the borough as compared with the previous year.

“We continue to hear stories of despair, from people who are confronted with the difficult choices of paying bills and affording to put meals on the table for their families,” Thompson said. “We have also heard about the harsh economic consequences that foreclosures can have on neighboring properties and entire communities. We as a city cannot afford to sit on the sidelines, do nothing and think that these challenges will solve themselves. We must take action.”

To combat the ongoing crisis and educate people about these issues, Thompson convened conferences throughout the city and created a foreclosure prevention helpline to offer assistance. The helpline links callers with United States Department of Housing and Urban Development counselors matched to resident’s specific neighborhoods.
To date, the helpline received more than 2,600 calls for information and opened 1,054 cases, with 814 of them originating from the five boroughs. Of these calls, the largest numbers are from Queens with 42 percent of the total.

Following the speeches of local elected officials, the free conference offered workshops on avoiding foreclosure, predatory lending, savings, credit, financial maintenance and home protection. There were also several tables set up throughout the lobby that offered informational assistance to participants.

For more information on how to avoid foreclosure, visit the Comptroller’s website at www.comptroller.nyc.gov. To contact the foreclosure prevention helpline call (212) 669 4600.