Mitchell Cohen, a former Scarsdale resident is facing lawsuit that names him the mastermind of an elaborate conspiracy to commit mortgage fraud in New York City that caused at least 17 homebuyers to default on their mortgages and face foreclosure. In a case filed on December 13 2010 by the US Attorney’s Office for the [...]
Corporate Resource Services, Inc. is now the owner of the assets of Integrated Consulting Group of New York, LLC which also conducts business as Impact Staffing through a foreclosure sale. The price Corporate Resource Services paid for the assets of ICGNY included the repayment of outstanding obligations of ICGNY under its credit facility, the assumption [...]
Saratoga County may be the new owner of Luther Forest Technology Campus next year, says Michael Relyea, president of the Luther Forest Technology Campus Economic Development Corp. New York state’s Empire State Development Corp. hold the lease on the property. The largest company there by far is GlobalFoundries, which is building a major computer chip [...]
Foreclosure activity in the city plummeted in November as the foreclosure moratorium was still on, due to faulty paperwork. New York registered 863 foreclosure notices last month, a 41% drop compared with October and 56% decline compared with November 2009, according to RealtyTrac’s latest stats. The major fall can be traced in large part to [...]
GE Commercial Business Property Corp. claims that Orange County Choppers missed mortgage payments of approximately $120,000 due on July 1 on two loans. So the lender started the foreclosure action on OCC New York Headquarters. In order to start building that, OCC took out two loans: one of $11 million and the second one of [...]
LNR Property was ordered to pay up for the $2.5 million in repairs needed at 10 foreclosed Bronx apartment buildings in a week. This decision comes after State Supreme Court Judge Stanley Green lifted the company’s stay on the enforcement of his September decision. The Florida-based special servicer LNR Property took full control over the [...]
Trevor Davis decided to save his condominium project by suing his lender, Zimco Holdings alleging that it plans to illegally foreclose on his six-unit property. "Substantial interest has been expressed by potential purchasers of the condo units and given a reasonable period of time, [Davis] would be able to sell all six condominium units in [...]
Foreclosure sales are down with 34.28% in the third quarter compared with the same period a year ago, according to RealtyTrac. Compared with the second quarter, the number of foreclosed homes, a total of 2,147 dropped 20.25%, the same report reveals. In the Albany-Schenectady-Troy area, 102 foreclosed homes sold in the third quarter, which means [...]
Lenders are using every method the have to get their money back, but they often forget the look over the paperwork and people get foreclosed by mistake, or illegally. This is a rough and – it looks like – quite often situation we meet when we hear some lender’s name such as Bank of America, [...]
Looking at the latest reports and comparing it with summer numbers we can see a high improvement, what makes us think that New York city foreclosure crisis might be close to end. Buying a foreclosed home means purchasing a house at big discount. Although this is a good deal, New York homebuyers looking for [...]
