Mar 26, 2015 — More than two years on and David Velez’s battle with Hurricane Sandy is far from over. But, thanks to some help from the Attorney General’s office, Velez’s fight with his mortgage lender may soon be coming to an end.
The first floor of the retired NYPD officer’s home in Gerritsen Beach, Brooklyn was destroyed by flooding during the hurricane, and without help from insurance he and his wife used their savings to rebuild.
Unfortunately, after the construction was complete an architect from the City’s Build it Back program deemed the residence structurally unsafe. Velez and his family moved out of the home this past October and were told that demolition would begin in November. Now March, Velez is still waiting for Department of Housing Preservation and Development contractors to begin construction of his home. While the program has gotten a shot in the arm under Mayor Bill de Blasio, the pace is still too slow for many.
Even living out of his home there is another reminder of the damage Sandy has done: Velez gets regular calls from Citibank representatives asking when he will catch up on his mortgage. “They even called me the day I had cancer surgery to remove a tumor,” said Velez who was advised like other Sandy victims that he could stop mortgage payments while his home was being rebuilt, only for his lender to demand missed payments immediately after the forbearance was over.
It is a call increasingly familiar to homeowners across the state who are behind on their mortgages, whether from unexpected disasters like Hurricane Sandy or thanks to the economic downturn of 2008 and subsequent recession. Even in 2014, New York City saw a 33 percent increase in first-time foreclosures compared to the year before, according to one recent study.