“This item passed by the Legislature, to which I object and do not approve, is a new appropriation, but is improperly characterized as a reappropriation. Accordingly, this item is disapproved.”


Cuomo vetoes pay for foreclosure prevention services

Gov. Andrew Cuomo’s veto of $1.5 million to pay for foreclosure prevention services in New York shocked housing advocates who say the program is vital to help struggling homeowners.

Cuomo’s veto means the Foreclosure Prevention Services Program will shut down at the end of this year, the advocates said.

The program has trained more than 150 nonprofit housing counseling and legal assistance agencies over the past four years to help homeowners in default and foreclosure, according to Kirsten Keefe, senior attorney in the Albany office of the Empire Justice Center.

Housing advocates had hoped for $15 million in the state budget to continue the program, but were only able to get $1.5 million set aside by Democrats who control the Assembly.

Read more: Cuomo vetoes pay for foreclosure prevention services | The Business Review