Comptroller Reaches Out to Subprime Loan Holders

New Yorkers having trouble paying their loans have a new hotline they can call. The city comptroller's office is starting the service because of the subprime loan collapse.

REPORTER: According to a local non-profit, the number of foreclosure filings in the city is expected to exceed 15,000 this year - twice as many as two years ago. Minority communities like Williamsbridge in the Bronx and Bed-Stuy in Brooklyn are amongst the hardest hit. City Comptroller Bill Thompson says his staff will take the calls.

THOMPSON: The helpline will give men and women struggling with their mortgages someone to help them manage their debt obligations and try to prevent the loss of their homes.

REPORTER: The housing group ACORN says it will find homeowners who need assistance. The organization will also try to identify unscrupulous lenders. The helpline number is 212-669-4600.