House Republicans are targeting for elimination four federal programs to address the foreclosure crisis that could provide more than $520 million for struggling New York homeowners over the next two years. Republicans are seeking to kill:

• The Home Affordable Modification Program (HAMP), which has already helped 32,785 homeowners in the New York metropolitan area and could deliver more than $400 million in additional aid to New York over the next two years;
• The Emergency Homeowner Loan Program (EHLP), which is scheduled to allocate $111 million to New York State to help as many as 142,040 unemployed homeowners statewide stay in their homes;
• The FHA Refinance Program, which could help 121,891 homeowners in the New York City metro area who owe more on their mortgages than their houses are worth; and
• The Neighborhood Stabilization Program (NSP), which is scheduled to provide $9.7 million to help the City of New York turn abandoned properties into 200 units of affordable housing