Affordable Housing via Foreclosure
While Mayor Bloomberg implements NYC’s $59 million plan, other counties in New York State are engaged in the same effort. Only in their case, averting Suburban Blight is their chief aim, as demonstrated in Hempstead, N.Y. While a noble effort by some accounts, we’re all acquainted with the phrase, ” the road to hell is [...]
172 Brooklyn Avenue: Whose in Charge of this Eye Sore?
Since 1970, this property has changed hands 15 times and had Lis Pendens (law suits) filed with property liens to foreclose for non payment of property taxes 4 times.
It experienced a Lis Pendens filing for mortgage default only once. The city has defended its claim to unpaid property taxes more times than it engaged in enforcement action through the Department of Buildings for unsafe building conditions, which only occurred 2 times (2001 & 2006). So why does it still look this way?
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 [...]
Bloomberg’s Foreclosure Plan to Avert Urban Blight
According to an article in the New York Times, Mayor Bloomberg and outgoing Housing and Urban Development Secretary Preston announced at a press conference held at City Hall on January 14th 2009, an initiative to save neighborhoods from the threat of urban blight from foreclosure. New York City will buy 115 homes with a $24 [...]
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