Resources

COVID-19 Related 

Social Emotional Support

 

 

 

 

 

 

 

Supporting Families COVID 19

Financial

Resources from the Consumer Financial Protection Bureau

https://www.consumerfinance.gov/practitioner-resources/your-money-your-goals/toolkit/

Tools to help when you can’t pay your bills @ https://www.consumerfinance.gov/about-us/blog/tools-to-help-pay-bills/?utm_source=newsletter&utm_medium=email&utm_campaign=OCA

Protect Yourself Financially from the Impact of Coronavirus @ https://www.consumerfinance.gov/about-us/blog/protect-yourself-financially-from-impact-of-coronavirus/

Protect yourself financially from the impact of the coronavirus | Consumer Financial Protection Bureau

This blog was originally posted on March 13, 2020 and has been updated on April 3, 2020 to reflect new information. You can take steps to help protect yourself or a loved one from the financial impact of the coronavirus.

www.consumerfinance.gov

 

Tools to help when you can’t pay your bills | Consumer Financial Protection Bureau

If you are having trouble paying your bills we have tools to help you take stock of your finances and make the hard decisions about which bills to prioritize as you deal with the financial impacts of the coronavirus.

www.consumerfinance.gov

If you are able to pay your rent and/or mortgage, make sure to do so.  You are still obligated for these payments, and it will be harder to pay them the longer you wait.  If you are having financial difficulty, make sure to speak with your landlord, rental manager, or mortgage lender or servicer asap.  Communication is key!

Eviction Moratoriums:  NYS and Federal 

Tenant Rental Assistance

  • The federal CARES Act and other recent stimulus packages (passed and pending) include funds to assist tenants with rent payments. However, it has not yet been sorted out about how these funds will be made available. There is also advocacy around providing mortgage assistance in future bills. Stay tuned.

Mortgage Relief Options for Homeowners Impacted by Coronavirus

[Note:  See links at bottom to help you determine whether your loan is insured or owned by a government entity or if the institution that services your loan is chartered or licensed by the NYS Department of Financial Services]
  • Federal Rule Regarding Federally-backed Mortgages (FHA, VA, USDA, Fannie Mae, Freddie Mac)
    • 60-day moratorium (after March 18, 2020).  Prohibits lenders and servicers from beginning a foreclosure or finalizing a foreclosure judgment or sale. Does not to apply to vacant or abandoned properties
    • right to request and receive forbearance on their mortgage payments for up to 6 months, with the option to extend for an additional 6 months (total max of 1 year), as well as the option to discontinue the forbearance at any time. During the forbearance period, servicers are prohibited from charging fees or interest beyond what the borrower would have had to pay if they were making their payments as scheduled.
  • NYS Executive Order Regarding SONYMA-backed Mortgages
    • 90-day moratorium (effective March 25, 2020). Prohibits lenders and servicers from beginning a foreclosure or from finalizing a foreclosure judgment or sale. Does not to apply to vacant or abandoned properties. See https://hcr.ny.gov/node/22021#state-of-ny-mortgage-agency–sonyma-
    • May request a forbearance up to 90 days (with repayment plan)
    • Mortgage modification up to 90 days (repayment due within 3 months at end of mortgage)
    • Extended mortgage term not to exceed 480 days.
  • NYS Emergency Regulation to Mortgage Servicers Regulated by the NYS Department of Financial Services*
    • 90-day moratorium on foreclosures
    • No negative reporting to credit bureaus
    • Grace period for loan modification
    • No late payment fees or online payment fees
    • Eliminated ATM fees, overdraft fees, and credit card late payment fees for any individual who demonstrates financial hardship as a result of the COVID-19 pandemic
    • For more information go to: https://www.dfs.ny.gov/consumers/coronavirus/mortgage;

 If your mortgage does not fall into any of these categories, call your mortgage servicer or lender to discuss what options are available to you.  Most of them will want to work with you.

Use the following links to determine whether your loan is insured or owned by a government entity or if the institution that services your loan is chartered or licensed by the NYS DFS:

For additional information, visit:

Other Non COVID Related Resources

City of Troy

Information about permits required to hold neighborhood events on city-owned property, see permits needed

Permits Needed

Troy City Council

Rensselaer County

 

State and Federal Resources

NYS Homes and Community Renewal

US Department of Justice

US Department of Housing & Urban Development

 

National Initiatives

NeighborWorks America Community Engagement Program

Stable Communities

Enterprise Community

National Association of Town Watch

National Night Out

National Neighborhood Watch