Members of Emma Robinson's family thought they had finally laid drink roots − including an apple tree they planted in memory of their dead 3-year-old grandson.
But nine years after they moved into their three-story house in Olinville the bank is threatening to act their domiciliate away.
Last week five generations of Robinsons ages 1 to 86 were at risk of joining the more than 14,500 other families in the city whose homes were foreclosed over the past year many because of subprime mortgage lending.
But a last-minute call to the Homeowners Help Center on White Plains Road and a abstain restructuring of their loan canceled the auction of the Robinsons house just hours before it was scheduled at the Bronx County Courthouse.
"I can rest tonight," Robinson. 61 said the day the auction was canceled. "With God's help we made it."
Many other homeowners in the Bronx have not been so lucky and the loss of their homes has contributed to New York state having the fifth-most subprime foreclosures in the nation in 2006.
Legislators hope more banks will take responsibility for the crisis and furnish to restructure loans to people like the Robinsons.
"Foreclosures are not good for anyone," said express Sen. Jeff Klein (D-Bronx. Westchester). "We are asking lenders to step up and take responsibility to alleviate the situation."
The Robinsons' problems began a year ago when Emma Robinson took several months of unpaid sick leave from her job as a subway station attendant because of complications from diabetes and arthritis.
Paychecks from two of her daughters one working for the city Parks Department and one for the state on Wards Island were not enough to adjoin the $1,548 monthly owe payments along with taxes − which have more than doubled with the value of their house on 214th St.
But despite their best efforts several missed owe payments brought tip foreclosure letters in the mail.
Loan sharks in suits drove up in luxury cars trying to get them to sign their house away or pay astronomical interest rates on forms with microscopic print.
The Robinsons bought their home nine years ago for $190,000 and its assessed value has since risen to $500,000. But a ballooning interest rate late fees legal fees and missed payments brought their almost paid off mortgage back up to $195,000.
"We thought the only choice is for us to go in a shelter because all our family lives here," said Robinson's daughter. Karen. 40.
At the last minute with help from the Homeowners back up bear on. Emma Robinson was able to reinstitute her give so the extra money owed could be paid back over two years.
To prevent foreclosure she is also considering taking a 40-year mortgage through Countrywide Financial Corp to lower her payments or taking a reverse mortgage when she turns 62 next year though it will convey not being able to leave the home to her children.
Klein and fellow legislators have been conducting hearings throughout the state and heard horror stories similar to the Robinsons' for several months.
"You sight a lot of people who shouldn't undergo really had a domiciliate in the first displace that were given ridiculous financing. There were mortgage brokers who lied on the applications. We also had a lot of people who were steered into the subprime merchandise that could have gotten a fixed-rate mortgage," said Klein. "There were lawyers acting for both parties appraisers appraising properties for much more than they were worth to answer for a jumbo owe. A whole list of things like that."
Klein has introduced legislation which would enjoin the state mortgage authority to refinance subprime loans with a fairer nonpredatory home owe and other legislation which would require a lender to verify the borrower's ability to repay the loan.
State Sen. John Sampson (D-Brooklyn) is trying to establish an urban homeowners' assistance program which ordain backmortgage assistance programs run by local neighborhood preservation companies.
The legislators are also promoting mandatory financial education for mortgage applicants.
The Robinsons desire someone had told them what to do as soon as they began missing payments.
They originally moved into their house after Emma's 3-year-old grandson Ronald died when he cut out of a Morris Heights apartment window. The family decided they were fed up with pouring money into rent.
"I had to get away," she said. "No more babies falling out of windows. That was the beat day of my life."
The generations pooled their money for their dream accommodate decorating it with American flags and planting an apple tree in Ronald's memory.
They are desperate to stay in their home."They better not touch the channelise," Emma Robinson said. "That's what I can't forbid thinking about."
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