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News: Foreclosures

Canarsie Braces for Foreclosure Wave After Sandy

The neighborhood was a hotbed for defaults even before the superstorm's devastating flood. Now, advocates fear a flood of housing emergencies.

Foreclosure Crisis: Buzz Fades, Protests Continue

Four years after the housing crisis transformed the presidential race, it's barely mentioned on the campaign trail. But foreclosure is still an issue in New York, and some believe federally-chartered agencies can do more to help.

Foreclosure Crisis Fades to Black and Brown

The crisis in the national housing market has slipped from the front pages. But in New York's neighborhoods of color, the twin crises of foreclosures and joblessness are still big stories.

Living On The Edge: East New York & Bay Ridge Go Off Script

Chapter four of "Brooklyn: The Borough Behind The Brand" visits East New York, Bay Ridge, Bensonhurst and other neighborhoods whose story over the past 20 years differs from the standard narrative of Brooklyn's growth.

Troubled Bronx Buildings Spur City Crackdown

The saga of 10 Bronx buildings that fell into disrepair after their owner defaulted has inspired a new city program aimed at detecting problem buildings—before they become problems.

No Vacancy: Why Empty Condos Aren't Becoming Affordable Housing

Boom-time overbuilding left thousands of units vacant. But a city program to convert them to affordable housing has found the market uncooperative.

The Election's Over. So Let's Talk Issues

A look at the policy questions that campaign 2010 didn't answer

Election 2010: Polls Closed, Policy Awaits

Election night confirmed what polls had predicted for weeks: Andrew Cuomo will be New York's next governor. Here's a look at what that means for the state's economy, schools, power plants and housing market.

Cuomo Housing Plan Praised, Parsed

The economic crisis that dominates campaign 2010 began in the housing market. So what are the gubernatorial candidates—especially frontrunner Andrew Cuomo—saying to owners, tenants and landlords?

HPD Commish 'Shocked' At Buildings In Multimillion-Dollar Deal

The city is cracking down on the owners of Bronx properties at the center of citywide concerns about what will happen to apartment buildings scarred by foreclosure.

Gay Marriage, Tenants' Rights, Albany Reform: The Primary Races To Watch

From southeastern Queens to the north central Bronx, background on the races that could determine what kind of State Senate will emerge from election 2010.

Queens Race Defies Narrative Of Gay Rights, Reform

Coverage of the matchup between Sen. Shirley Huntley and Challenger Lynn Nunes revolves around gay rights. But hospital closings, foreclosures and flooding are the issues closer to the district.

Pols Warn Foreclosed Buildings' Mystery Buyer

Tenants and elected officials are suspicious of the unnamed buyer eyeing 10 distressed Bronx buildings, but the city's housing chief wants to give the new owner a chance.

Banks Redline Minority Communities Again

Communities of color were flooded with mortgages and home equity loans in the first half of the decade. Not anymore, according to a new study.

New Path To Foreclosure -- Delinquent Water Bills

The City Council ponders how DEP can collect payments without leading homeowners to foreclosure.

A Minefield for Obama

When will the President address the disproportionate color of unemployment?

A Backward Glance:
12 Months Of Scoops

Top stories from City Limits describe 2009 as experienced in 'the other New York.'

Foreclosure Fears Lead
To Tenants' Conundrum

First tenants feared that investors who paid exorbitant prices for modest-rent buildings would evict tenants or cut services. Now they're worried about what happens when those fears don't materialize.

For Homeowners, Promised
Help Rarely Arrives

Mortgage companies, foreclosure counselors and government regulators disagree on the reasons why a federal program to help distressed homeowners is rescuing so few.

Mortgages and the Mayor:
Candidates on Foreclosure

Both Mike Bloomberg and Bill Thompson responded earlier than most pols to the foreclosure crisis. But can the city's response keep up with mounting homeowner woe?

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A foreclosure is the process of taking possession of mortgaged property when the owner has failed to make mortgage payments. The recent crash of the housing market took place when banks gave out mortgages to clients who were unable to pay. This was the fault of the bankers for not working diligently and the homeowners for pursuing a mortgage they knowingly could not pay. From February and October 2010, over 100,000 New Yorkers were given notice of property foreclosures.

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State Nudges Banks to Monitor Building Conditions - Jarrett Murphy

New examination rules are aimed at getting banks to look more closely at the soundness of the landlord's financial plan and the conditions tenants are living in.

Water Rate Hike Reflects EPA Mandates, Fiscal Crisis Finance - Michele Narov

For the first time in five years, the city's water rate will not undergo a double-digit increase. But some say even the 7.5 percent boost is too high for struggling homeowners.



2014 Development Finance Conference

Wednesday, November 05, 2014
8:00a - 6:00p

Foundation Center's Open House

Wednesday, November 05, 2014
09:00a - 05:00p



Homes Underwater: Forebearance Alternatives for Sandy-Affected Homeowners

A report by Franklin Romeo and Jennifer Ching of (Queens Legal Services and Legal Services NYC) explores foreclosure risks in neighborhoods hit hard by Sandy and finds that some of the steps taken by banks in the wake of the storm "[create] a situation where a homeowner is likely to fall into a mortgage delinquency."

NYC Charter Commission: Land Use

City Limits' recent issue looks at the debate over whether the city needs to reform the way it makes development policy. Here are the findings from the Charter Revision Commission, which considered--but declined to make--broad reforms.