Sunday, September 25, 2011
Monday is the deadline for homeowners facing foreclosure to qualify for a federal housing grant, but housing groups working to sign people up say only a small percentage of homeowners qualify because of rules that make many ineligible.
Friday, September 16, 2011
A report by RealtyTrac on Thursday revealed default notices filed by banks — which represent the first step in the foreclosure process —were up 33 percent in August from July. Many analysts believe this is due to banks beginning to clear backlogged filings caused by the robo-signing controversy of 2010, which created a de facto moratorium on foreclosures around the country. In California, filings were up even more than the average at 55 percent, and in New Jersey levels of default notices reached 42 percent.
Thursday, September 01, 2011
It doesn't take a scientist to conclude that going through the foreclosure process is stressful. Even the threat of being foreclosed on can make one's blood pressure rise. But science can show the very real effects that these tough economic times are having on America's health. A new study links the rise in foreclosures to more hospital visits related to diabetes and hypertension. More specifically, for every 100 foreclosures there was a 7.2 percent rise in emergency room visits, an 8.1 percent increase in diabetes cases for people aged 20 to 49, and 12 percent more hospital visits related to anxiety in the same age category.
Wednesday, August 24, 2011
New York Attorney General Eric Schneiderman was removed from the executive committee negotiating a nationwide foreclosure settlement with U.S. banks on Tuesday.
Thursday, August 04, 2011
This is a matter of restoring public confidence. People do not believe that there's one set of rules for everyone on Wall Street anymore, we have to restore that confidence for the markets to get going. And as you can see the housing markets are still paralyzed by the overhang from this disaster.
—Attorney General Eric Schneiderman, on The Brian Lehrer Show
Tuesday, August 02, 2011
By Bob Hennelly
New York City is not enforcing a 2009 state law that requires owners of foreclosed properties maintain them, according to the state senator who wrote the law.
Friday, June 17, 2011
By Ilya Marritz
The number of landlords failing to make their mortgage payments is up sharply in New York City, according to a new study from NYU's Furman Center for Real Estate and Urban Policy.
Monday, June 06, 2011
The Treasury Department was given $46 billion to keep homeowners in their houses in 2009, but has spent less than $2 billion of that money. In April, there were more than four million mortgages in foreclosure or 90 days delinquent. The New York Times' Andrew Martin says that the primary cause of foreclosures is unemployment and that the U.S. government has not focused nearly enough attention on the problem.
Monday, April 11, 2011
By Ilya Marritz
An analysis of city data by WNYC shows home owners on this block of two- and three-story homes on Freeman Street — between Union and Prospect avenues — tallied an astonishing 41 violations for failure to clear snow from the sidewalk this winter.
Wednesday, February 23, 2011
By Charlie Herman : Business and Economics Editor
Sales of existing homes rose unexpectedly in January, but the increase came largely from investors and all-cash buyers snagging deals on foreclosed homes rather than first-time homebuyers.
Tuesday, February 15, 2011
The state's chief justice wants to make sure homeowners facing foreclosure can get a lawyer, even if they can't afford one. Chief Justice Jonathan Lippman made his comments during his annual State of the Judiciary speech in Albany on Tuesday.
Wednesday, January 26, 2011
A dip in housing prices is causing concerns that we might be headed for a double-dip in the market this spring. Louise Story, Wall Street and Finance Reporter for The New York Times, says the latest housing numbers out by the Case-Shiller Index raises more questions than answers about the housing market in the near term.
Monday, January 24, 2011
By Bob Hennelly
In Washington and around the country, chief executives including the president, the governors, and local mayors are all giving their annual takes on reality.
On Tuesday, from President Obama, we are going to hear about a nation that is still hurting but has turned a corner toward recovery.
But how is it really going on America's Main Streets?
Thursday, January 13, 2011
By Richard Yeh : Producer, WNYC News
The city will no longer wait for rundown buildings to become unlivable before intervening, according to Council Speaker Christine Quinn.
Tuesday, January 11, 2011
Big banks and over-committed mortgage-holders have been under the foreclosure microscope for a long time. Foreclosure lawyers are next up for scrutiny; according to an article from The New York Times, an increasing number of judges are accusing lawyers of processing inaccurate and even fabricated documents in foreclosure actions when representing banks. Are these accusations accurate, and if so, what is the source of the problem?
Monday, January 10, 2011
By Bob Hennelly
For months now, the banking industry has been dismissing the fact that they may have been pursuing tens of thousands of home foreclosures with deficient paper work as mere technical glitches.
Last week they got a wake-up call when Massachusetts highest court ruled 6-0 in favor of two Springfield homeowners who had been foreclosed on three years ago. The high court let stand a lower court decision that both foreclosures were invalid because the two banks trying to seize the homes did not actually have the legal standing to do so.
Gary Klein, a Boston based lawyer who wrote a friend of the court brief on behalf of the victorious homeowners, says he has a pending class action involving almost 10,000 families that he says were victims of improper foreclosures. “We need to sort out these faulty foreclosures,” says Klein because the underlying defective paper work will haunt the “future property owners years from now who will have a hard time getting a clear title” to the land they think they own. The Boston Globe quoted one of the banks tried to put the best spin on the ruling by suggesting it only created a "standard legal process" going forward for mortgage companies to follow.
Thursday, December 16, 2010
Over the past two years, we’ve been told to expect a silver lining to the housing crisis. At a first glance, the release of tomorrow’s foreclosure numbers should add to that optimism, as analysts expect the number of new foreclosures to drop dramatically. But does that mean we’ve truly passed the worst moments of the housing crisis?