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Apr 25, 2014

Supreme Court: Does state law nix homeowners’ toxic tort claim?

WASHINGTON — The ability of a group of North Carolina homeowners to bring a lawsuit over latent contamination in their well water will come down to the U.S. Supreme Court’s answer to a single, if technical, question: Is there a functional difference between a statute of limitations and a statute of repose? The issue in […]

Feb 3, 2014

Gates considers help for homeowners

Some of the area’s largest businesses have received tax breaks for new projects and for rehabilitation of existing projects. They include Xerox Corp., Marketplace Mall, the University of Rochester and LiDestri Foods, among others. They total in the millions of dollars. Now, homeowners in Gates who plan to remodel their home may also see a […]

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 […]

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 […]

Mar 21, 2013

Assurant to pay $14M over force-placed insurance

ALBANY — New York financial officials have settled with Assurant Inc. over “force-placed” insurance with refunds to some homeowners and a $14 million penalty. The settlement follows a Department of Financial Services investigation of the insurance policies banks take out when a homeowner fails to maintain coverage required by the mortgage, often because they are […]

Feb 22, 2013

Thousands of NYers share $1.8B in mortgage relief

ALBANY — Thousands of New York homeowners have gotten an estimated $1.8 billion in loan relief from five U.S. banks as part of the national mortgage settlement over foreclosure abuses. So far, 21,535 New York homeowners have received assistance, including $1.2 billion in principal reductions and refinancing that lowers interest rates on their mortgages. New […]

Jan 17, 2013

Goldman, Morgan Stanley pay $557M in mortgage case

WASHINGTON, D.C. — Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. The agreements announced Wednesday with the Federal Reserve were similar to deals struck earlier this month with 10 other major banks […]

Jan 7, 2013

Banks agree to pay $8.5B for foreclosure abuse

WASHINGTON, D.C. — Ten major banks agreed Monday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. The banks, which include JPMorgan Chase, Bank of America and Wells Fargo, will pay billions to homeowners to end a review process of […]

Nov 1, 2012

Homeowners won’t have to pay storm deductible

ALBANY — State officials have determined New York homeowners won’t have to pay an insurance deductible in seeking compensation for damage from superstorm Sandy. Laws in 15 states including New York allow officials to waive the 1 percent to 5 percent deductible payment if a storm is downgraded from a hurricane. Sandy was downgraded from […]

Jun 14, 2012

AG backs bill to crackdown on foreclosure fraud

Proposed legislation backed by New York Attorney General Eric Schneiderman could impose stiffer penalties against those who engage in fraudulent foreclosure practices. The Foreclosure Fraud Prevention Act of 2012, which was introduced into the New York State Assembly on Wednesday, would define residential mortgage foreclosure fraud as a criminal offense carrying fines and jail time. […]

Jun 4, 2012

AG releases hiring tips for homeowners

Following action cracking down on unscrupulous home improvement contractors, Attorney General Eric T. Schneiderman has issued tips to protect New Yorkers from unlawful contracting practices as the summer season begins. While in Plattsburgh on Saturday, Schneiderman announced the results of an investigation into 47 contractors for committing widespread violations of the law, including failure to [&[...]

Mar 29, 2012

AG: Foreclosure assistance funding on way

Nonprofit foreclosure prevention assistance programs across the state breathed a sigh of relief this week with New York Attorney General Eric T. Schneiderman’s announcement that at least $9 million will be available to them to continue assisting homeowners in danger of foreclosure through the state’s Foreclosure Prevention Assistance Program. Funding for the program was set […]

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