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Foreclosures

Aug 17, 2015

Comptroller says high home foreclosure level persists

ALBANY — The foreclosure crisis persists in New York, even worsening in some suburban and upstate areas, the state comptroller reported Monday. Filings against homeowners unable to make mortgage payments spiked after the housing bubble burst in the 2008-2009 recession, according to the report. New cases nearly doubled over three years to 47,664 in 2009. […]

Aug 3, 2014

Seneca County can’t foreclose on tribal lands

Seneca County can levy property taxes on land owned by the Cayuga Indian Nation, but has no legal means of collecting them. The U.S. Court of Appeals for the Second Circuit on Thursday agreed the tribe has federal sovereign immunity from suit and upheld a preliminary injunction preventing the county from foreclosing on Nation-owned lands […]

Jun 27, 2014

New program helps avoid foreclosure

The state is launching its New York State Mortgage Assistance Program, or NYS MAP, which will provide small loans to families struggling to avoid foreclosure. The loans will help families secure mortgage modifications to stay in their homes. Details were to be released at a Nassau County Town Hall in Hempstead. NYS MAP will be […]

Nov 27, 2013

Woman thankful to keep her home

It’s been years since Catherine Lennon’s house was foreclosed on, even though she was making mortgage payments at the time. It’s been two years since a group of protesters formed a blockade and successfully staved off her eviction. It’s been weeks since the end of her David-against-Goliath saga was made known, and her house deeded […]

Aug 4, 2013

Law will help homeowners in legal limbo

Consumer attorney Rebecca Case Caico knows of a foreclosure complaint that was filed in 2009, and the homeowner’s first settlement conference wasn’t  held until 2013 — four years later. That’s one example of the thousands of inactive foreclosure cases across in New York that are part of the “shadow docket” that has left homeowners petrified […]

Jul 11, 2013

RealtyTrac: Repossessions declined in June

LOS ANGELES — Fewer U.S. homes entered the foreclosure process or were repossessed by banks in June, the latest sign that the nation is shaking off its housing bust hangover. Lenders initiated the foreclosure process on 57,286 homes last month, the lowest level for any month in 7½ years, foreclosure listing firm RealtyTrac Inc. said […]

Jun 20, 2013

Banks fall short helping struggling homeowners

WASHINGTON — A new report says homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation’s top mortgage servicers. Such delays can plunge borrowers deeper in debt. Joseph A. Smith, the independent monitor of last year’s national mortgage settlement, said Wednesday that while […]

Jun 4, 2013

Attorney general sues HSBC over foreclosures

ALBANY — New York’s attorney general is suing HSBC Bank USA and HSBC Mortgage Corp., claiming they’re failing to set timely foreclosure settlement conferences required by state law. The law says mortgage lenders who sue to foreclose on residential homeowners will request court-supervised intervention and attend a settlement conference on possible loan modifications within 60 […]

May 23, 2013

AG praises passage of foreclosure relief bills

Two pieces of legislation to protect New York homeowners have been passed by the Assembly and could be passed by the Senate later this year. The “Certificate of Merit” bill (A. 5582) would help more families avoid foreclosure by bringing greater integrity to the foreclosure process and expediting homeowners’ participation in court-supervised mediation sessions where […]

May 6, 2013

Schneiderman: Two banks violated mortgage accord

ALBANY — New York’s attorney general on Monday accused Wells Fargo and Bank of America of violating the terms of last year’s national mortgage settlement by failing to process hundreds of refinancing requests promptly. Attorney General Eric Schneiderman has notified the national monitoring committee established to enforce the five-bank agreement, citing complaints of 210 prompt-processing [&[...]

Apr 25, 2013

NY offers legal counseling to fight foreclosure

ALBANY — New York is offering legal advisers to help homeowners navigate the complex route to fight foreclosure. Attorney General Eric Schneiderman is releasing a television public service announcement that tells New Yorkers how they can get free housing counseling and legal assistance. The TV spots will air in English and Spanish statewide. Homeowners struggling […]

Apr 11, 2013

RealtyTrac: US home repos fell in March

LOS ANGELES — The number of U.S. homes repossessed by lenders last month fell to the lowest level in more than five years, the latest evidence that the nation’s foreclosure crisis is abating amid an improving housing market. While some states still saw increases in homes taken back by banks, nationally home repossessions fell 3 […]

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