NYC Sets Up Hotline for Some at-risk Homeowners

NEW YORK -- With mortgage foreclosures on the rise, New York City's finance chief has set up a helpline for people at risk of losing their homes.

Comptroller William Thompson says the new hot line will link callers to nonprofit groups that can help them refinance their homes. He says he'll have 10 people staffing the hot line.

The number is 212-669-4600.

Home-mortgage delinquencies and foreclosures have been rising nationwide in recent months, especially for people who took out what are called subprime mortgages. Those are higher-priced loans for people with tarnished credit or low incomes, who are considered greater lending risks.

Thompson says research shows there could be more than 15,000 foreclosure filings in New York City this year twice as many as two years ago.

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