Are Banks Interested in Modifying your Existing Mortgage?
The investigative news report at the end of this post by Brian Ross, Chief Investigative Correspondent for ABC News, chronicles the experiences of elderly homeowners faced with the peril of losing their homes. In their attempts to stave off the threat of foreclosure, each homeowner makes earnest attempts to reach the appropriate staff within their [...]
The Foreclosure Business: NYC $59 Million Plan
NYC Department of Housing, Preservation and Development has begun implementing it’s plan to use the $24 million dollars received from the U.S. Department of Housing and Urban Development as part of the the Housing and Economic Recovery Act of 2008. As indicated in the video, the city purchased 7 properties in neighborhoods hard hit by [...]
Is NYC Overcharging You in Property Taxes?
How much are you being charged for Property Taxes in New York City?
I’m sure the thought has crossed your mind. However, we understand why property tax is collected. It takes a lot of money to run a City that never sleeps.
Property Tax in New York City funds public school education, police and fire protection, emergency services, garbage pick up, public health care and hospital services, roadway and street maintenance, etc…
And while New York City has diverse sources of revenue (Sales Tax, Transfer Tax, Fees, Fines, etc…), its largest source is Property Taxes.
Why Declining Property Values are Hazardous Where You Live
During 2007, New York City appeared resilient in the face of the national foreclosure crisis experienced in other states and major cities. In California, Nevada and Arizona, the number of homeowners defaulting on sub prime mortgage loans threatened the financial stability of each state.
However, 2009 finds New York City at the place that each of the states mentioned were, back in 2007. And each are in far worst shape than we are today. Which should cause great concern for the prophetic nature their misfortune bodes for New York City as we implement the same measures they attempted.
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