The high number of foreclosures that ripped through a small slice of Staten Island in 2008 may be over, but it left behind a whole street with for-sale signs and broken dreams. Blackford and Nicholas avenue – one of the hardest hit areas in the city – residents say that their once stable working-class neighborhood [...]
There are 80,000 foreclosure cases in New York and the bank lawyers prosecuting these cases are all but admitting that the cases they have filed over the past number of years have been riddled with fraud. A couple of weeks ago – more precisely on October 20 -, New York State Judge Jonathan Lippman notified [...]
The New York Bar Association did not manage to change the new rule that forces lawyers to guarantee the accuracy of legal papers filed in foreclosure cases. The lawyers’ group tried to get New York State Chief Judge Jonathan Lippman to change his recently proposed rule targeting the foreclosure process accuracy, but the state’s top [...]
Anglo Irish bank failed to sell 232 flats in New York a couple of days ago at a foreclosure auction. The bank ended up repossessing the flats when it offered $82.5 million in a credit bid for the units at Manhattan’s Battery Park City, a failed condo project where it began the foreclosure process back [...]
Homeowners in New York counties like Suffolk and Nassau on Long Island and Kings County in Brooklyn finally have support in their troubled situation: judges dismiss up to 50% of foreclosure cases due to paperwork issues. These judges because unpopular over the past few year for checking paperwork for errors. While the level of tolerance [...]
Timothy McGinn is asking the US District Court in Albany to release $33,000 and $4,200 a month going forward to save his home from foreclosure. McGinn was a partner in McGinn Smith & Co., an Albany investment firm which is now charged by the US Securities and Exchange Commission with securities fraud. There is a [...]
It looks like the temporary freeze did help to push foreclosure activity down in New York during October. According to the latest report published by RealtyTrac filings were down 19% compared to a year prior. This means a number of 1,466 foreclosures, which is a 4% drop from September. These numbers are real thanks to [...]
Glenwood Management is foreclosing on $78.6 million in loans given to developer Tribeach Holdings. Just like so many other great projects, this project located in New York, at 301 West 46th Street at the corner of Eighth Avenue, where Tribeach dreamed to build its 38-story hotel and condominium, was crushed by the economical downturn. It [...]
Amalgamated Banks now has to respond in front of the court to its fellow lender Petra Mortgage Capital, who has filed a $32 million lawsuit alleging the bank guaranteed funds connected to a foreclosure case against the One Bennett Park condominium in the Hudson height section of Manhattan. The lawsuit papers – filed in New [...]
Although the country’s major lenders put foreclosures on hold, distressed property and foreclosure sales continued to rise in September. According to new data, any significant delay in foreclosures resulting from the recent robo-signing scandal could have major repercussions for the housing market in the following months. There were two trends in September. The first one [...]
