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Tag Archives: New York

How New York’s Foreclosure Rates Compare by Borough

Foreclosure rates in the Big Apple are falling, according to a new report. Click through to learn which Boroughs have seen a steeper decline in foreclosure rates compared with other New York neighborhoods.

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Where Does America’s Housing Value Stand?

Cities like New York and San Francisco are notoriously expensive, but just how much of the nation's real estate value do they hold? Click through to find out, which cities' combined housing values equal the GDP of a country.

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Senator Calls for Action on Zombie Properties

New York Senator Chuck Schumer says HUD is taking too much time renewing an agreement that would get thousands of vacant properties off the state's books.

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New York Buys Distressed Mortgages to Fight Zombie Homes

New York Gov. Andrew Cuomo has announced that the state, working through its Community Restoration Fund, has purchased 172 distressed mortgages in high-foreclosure areas, hoping to help keep the homeowners in their homes and avoid letting more abandoned properties fill ...

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Top 5 Cities to Rent and to Own a Home

Manhattan, New York and Santa Barbara, California are among the most expensive places to buy a home, but the best places to rent, while Baltimore, Maryland and Clayton County, Georgia, are the best counties to buy a home according to ...

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U.S. Remains Most Stable Destination For Foreign Investors

The U.S. got top marks for real estate market stability and capital appreciation, although New York slipped to second position as the city with the hottest properties for foreign investors in an annual survey.

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Reconstruction Program Aims to Soften Fallout of Natural Disasters

A recent report examined the success of a Build it Back program, which restores homes destroyed by natural disasters. The program has been mostly successful, but some critics find it lacking in certain areas, such as build times and layout adherence. And even though nearly three-quarters of its docket has been completed, a high dropout rate is still a major struggle.

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BlackRock Seeks $3B in Damages from HSBC

BlackRock Inc., along with 23 other investors of residential mortgage-backed securities, petitioned New York federal Judge Lorna G. Schofield to hear oral arguments to advance their case to class status as they seek to collect over $3 billion in lost assets from HSBC. The initial suit claims that HSBC did not do its due diligence in protecting certificate holders, and that they failed to ensure the home loans being sold from mortgage originators and sponsors to the trust were only selling debt from credit-worthy borrowers. The plaintiff’s claim that HSBC’s direct neglect was the cause of loses when default rates hit their peak during the housing crisis.

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New York: A Property Tax Epicenter

When it comes to prices, nothing tops New York. 83 of the 100 buildings with the highest property taxes are located in New York City, according to a recent study. Topping the list is the the General Motors Building, which paid a total of $71,681,674 in taxes in 2016.

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