April 1, 2020
We have attempted to gather and/or link to answers to many of the questions NYC residents may have regarding the impact of the Coronavirus pandemic on their housing situation. We will update this site regularly so feel free to check back for new developments and email your questions to:
Now that I have time on my hands, I would like to see what I need to do to explore the possibility of homeownership. Where do I start?
NYMC will be starting online homeownership and money management classes in participation with all of the NYMC housing counseling agencies and lenders.
Our first 5-part series will start on April 6th and we will have Housing Action Council and Harlem Congregations kicking off the first Session.
We will be rotating NYMC agency speakers and lending guest speakers.
These classes are designed to take the place of the 8 hours needed in-person for the education certificate.
The New York Mortgage Coalition’s partner housing agencies are a great place to begin the process and many have online training you can access from home.
Click on any of the links below to be taken to information on their programs.
AAFE CDC https://www.aafe.org/2016/10/community-development.html
CDC of Long Island http://www.cdcli.org/programs/dreaming-of-homeownership/
Harlem Congregations https://www.hcci.org/budget-credit-counseling
Housing Action Council https://www.housingactioncouncil.org/index.html
Long Island Housing Partnership https://www.lihp.org/firsttime.html
Impacct Brooklyn https://impacctbrooklyn.org/buying-a-home/?oprtid=01236000000BRlF
Neighbors Helping Neighbors http://www.nhnhome.org/
Northfield Community LDC http://northfieldldc.org/housing/
What steps do I need to take to defer my mortgage payment due to coronavirus?
Lenders are providing a variety of mortgage and loan relief programs, with many offering a 90-day payment deferment in which your loan would be pushed out three months with no penalty, fees or credit impact. You must reach out to your lender to request this deferment. Please check your lender’s website or call the customer service number that appears on your mortgage statement.
Ally Financial https://www.ally.com/coronavirus-response/
Capital One https://www.capitalone.com/coronavirus/
Fannie Mae/Freddie Mac
Municipal Credit Union https://www.nymcu.org/update-regarding-coronavirus.aspx
People's United Bank https://www.peoples.com/security-center/message-regarding-coronavirus
Ridgewood Savings https://www.ridgewoodbank.com/home/contact-us/important_alert
State Bank of India https://www.sbinewyork.com/
Valley National Bank https://www.valley.com/coronavirus
What about renters? Will there be any relief for us?
Protections for renters
If you are renting from an owner who has a federally backed mortgage, the CARES Act provides for a suspension or moratorium on evictions. If your landlord has a federally backed mortgage or multi-family mortgage, you cannot be evicted for nonpayment of rent for 120 days beginning on March 27, 2020, the effective date of the CARES Act. After the 120-day period is up, the landlord cannot require you, the tenant, to vacate until providing you with a thirty-day notice to vacate.
If the property you rent isn’t covered by the CARES Act, many states have suspended all evictions and foreclosures due to the pandemic. Check the websites of your state government, state court or legal aid program for details and updates.
I heard Congress signed an aid package. What is included and who will be helped?
How much can I expect to receive and when?
I have lost my job. How can I file for unemployment? Do I still need to wait 7 days?
The 7-day waiver has been lifted. You can file for New York State unemployment benefits here:
How can I use this time while I am home with my family to improve my personal finances?
It is also a great time to review your personal finances. Perhaps you have less money coming in, so how can we better manage your spending to stretch your dollars.
· Do a spending review and see if there are expenses that can be eliminated or reduced.
· Create or revise your family budget.
· If you have loans, check with your lender to see if they are offering loan extensions or deferment. Many banks are offering 90-day extensions with no penalty or impact on credit score. This might provide a bit of relief over the next few months.
Many families are staying home, cooking more, using up the food in their pantries and freezers. This also may give you a blueprint for saving money when things get back to normal.
Perhaps your family is all in one place right now. This may be a good time to have a family meeting to discuss finances. Talking about when things get back to normal may help reassure your children that this situation is temporary and that things will indeed get better.
Information & Resources on COVID-19 for Housing Professionals and Consumers:
Health officials are currently taking steps to prevent the spread of COVID-19 (Coronavirus ) into communities across the United States. Professionals working in housing and homelessness, as well as the general public, can play an important role in this effort.
Through collaboration and coordination, we can disseminate critical information and take vital steps to prevent the spread of COVID-19.
If you need housing or homelessness assistance for yourself or someone you know, please visit the NYC.gov website
Have a Question? Call the Novel Coronavirus Hotline 24/7 at 1-888-364-3065
Your local health department is your community contact for COVID-19 concerns.
New York State Covid-19 Guidance and Live Updates
Link to official guidance from New York State including live updates and links to local health departments by county.
New York City Covid-19 Guidance
Link to official guidance from the Â New York City government.
Department of Housing & Urban Development
Sections for property owners, questions for FHA, and homeless service providers.
National Conference of State Legislatures
Summary of state sections on COVID-19. This page will be updated at 5:00 p.m. ET daily Monday-Friday.
World Health Organization (WHO)
WHO primary role is to direct international health within the United Nations system and to lead partners in global health responses.
The Centers for Disease Control and Prevention (CDC)
The United States federal health protection agency.
Housing Counseling Agencies: Information for Homeowners and Financial Information:
Making Home Affordable
The federal government has suspended foreclosures for government-backed mortgages during this public health crisis. Find out who owns your mortgage on the Making Home Affordable website above.
Federal Deposit Insurance Corporation (FDIC)
The FDIC is working with federal and state banking agencies, as well as, financial institutions to consider all reasonable and prudent steps to assist customers in communities affected by COVID-19.
Office of the Comptroller of the Currency (OCC)
The OCC is working cooperatively with all state and federal banking agencies and other organizations to regulated institutions and their customers in managing the impact of the outbreak. The OCC has set up a special page for COVID-19 Resources.
Federal Reserve System
The Federal Reserve System is the central bank of the United States. Link to COVID-19 resources.
Consumer Financial Protection Bureau
Information on protecting consumer finances.
HUD Waiver Suspending Face-to-Face Meeting Requirements with Default Mortgage Borrowers
Link downloads temporary, partial waiver of 24CFR§203.604 Servicing Responsibilities, Contact with the Mortgagor.
Homeless Service Providers:
HUD Exchange: Disease Risks and Homelessness
Including COVID-19 infectious disease prevention and response.
United States Interagency Council on Homelessness (USICH)
Resources include community planning and preparedness, funding, community examples and more.
National Alliance to End Homelessness
Resources for homeless service delivery systems to respond to coronavirus outbreak
New York City Department of Health
Interim Covid-19 guidance for homeless shelters.
New York State Courts
Information about the Coronavirus from the NY State Courts. The Office of Court Administration circulated a memo suspending all nonessential court functions until further notice, effective Monday March 16th at 5 p.m. That includes all commercial and residential eviction proceedings and pending evictions, per the memo, while essential housing court matters, like landlord lockouts and urgent code violations, will proceed.
NYC Family Justice Center facilities are temporarily closed but services remain available by phone, such as immediate safety planning, shelter assistance, and other resources. From Monday to Friday, 9 a.m. to 5 p.m., you can call the Brooklyn Family Justice Center at: 718-250-5113. On evenings and weekends, you can call NYC's 24-hour Domestic Violence Hotline at 800-621-4673.
For help with stress and anxiety, we encourage you to visit the NYC HOPE Resource Directory online at www.nyc.gov/NYCHOPE for help.
Meet with a housing counselor and take the first step to becoming a homeowner.
Find out more.