Housing federal guidelines indicate that families who pay more than a third of their income in housing are considered rent-burdened and may have difficulty affording other basic necessities. Yet New York City is currently among America’s most expensive places to live and many New Yorkers struggle to find and maintain their housing. For NYLAG clients, the struggle is even harder. Often times our clients’ focus on legal cases result in further financial strain, which puts them at risk of eviction and reduces their chances of finding affordable or regular housing.
The Financial Planning for Housing Security project sponsored by JP Morgan Chase aims to increase NYLAG clients’ financial capability and reduce their risk of housing instability and/or eviction. Clients work on budgeting, credit building and repair, and receive information about their financial options. It is a holistic approach that combines the support of the legal services and financial counseling and coaching. The project focuses on building long-term relationships and providing financial counseling to clients in crisis and financial coaching to long-term clients to help them achieve their financial goals.
An internal referral from the legal team is required to receive these services. Financial Capability services in this project are reserved for clients actively working with a NYLAG attorney.