Housing
Distressed NYC Homeowners Find Help—From City Hall
Through a special fund, New York City buys up delinquent mortgages to help homeowners and stabilize neighborhoods.
When Steven McDonald moved to the United States from Jamaica, he and his brother dreamed of owning a home. For two decades they saved and hoped until, in 2011, they were able to buy a two-family house in Springfield Gardens, Queens.
It was a perfect fit: walking distance from the LIRR and close to a park where McDonald’s son could play. “The minute we pulled up to check it out, we knew, yeah—if this is within our budget, this is it,” McDonald said.