In an effort to help distressed and underwater homeowners remain in their homes and to stem the adverse impact that foreclosed homes have on property values and neighborhoods, HUD Deputy Secretary Maurice Jones joined Congressman Paul Tonko, Albany Mayor Jerry Jennings, Schenectady Mayor Gary McCarthy, Troy Mayor Lou Rosamilia in hosting a roundtable with local housing counselors, real estate brokers, lenders, and advocates to discuss a broad range of financial legislative proposals aimed at helping struggling homeowners hit hardest by the housing crisis on Monday, September 24 at the College of St. Rose in Albany. Reports indicate that too many families in upstate New York cannot take advantage of interest rates that are at their lowest levels since the 30-year mortgage was created. During the roundtable discussion, Mr. Jones talked about the positive impact the $25 billion national housing settlement is having by providing over 3,000 struggling New York families with $91,000 in mortgage relief. In addition, the Deputy Secretary talked about the importance of supporting four congressional proposals that would ensure every homeowner current on their mortgage the opportunity to refinance and rebuild equity. As an example, one proposal would allow homeowners who are current on their mortgage but do not have government-backed loans the opportunity to refinance. The mayors were supportive of these proposals and also stressed the importance of stabilizing distressed communities through public-private partnerships that would rehab vacant properties to provide their residents with homeownership opportunities.