The State of New York Mortgage Agency (SONYMA) Community Restoration Fund is part of New York State Office of Homes and Community Renewal’s (HCR) response to the foreclosure crisis of 2008. The program acquires pools of defaulted mortgages and provides homeowners with an opportunity to start fresh with a more affordable payment. This program focuses on keeping families in their homes and ensuring that abandoned homes are quickly sold to owner-occupant buyers whenever possible. The CRF reinforces numerous other state and local efforts aimed at reducing foreclosure rates and stabilizing neighborhoods. SONYMA joined forces with New Jersey Community Capital (NJCC), a non-profit community development financial institution, to purchase approximately 400 troubled mortgage notes to revitalize distressed communities and boost housing markets across New York State.