Items Tagged with 'New York foreclosure rates'

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  • New York launches "first of its kind" program; will buy delinquent mortgages from FHA

    NYC set to buy loans to keep homeowners out of foreclosure
    In what officials are calling a "first of its kind" program, the city of New York announced Thursday that it is plans to buy a number of delinquent loans from the Federal Housing Administration as part of an effort to keep struggling homeowners from losing their homes to foreclosure. Here are all the details.
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  • New York adopts "sweeping" new laws to tackle foreclosure problems

    Will fight rise of zombie homes; new rules imposed on lenders, servicers
    While the U.S. Senate could soon consider new rules governing the maintenance of foreclosed homes and the glut of "zombie homes" that blight many communities throughout the country, the state of New York is taking the matter into its own hands. Late last week, New York Gov. Andrew Cuomo signed "sweeping" legislation to reform the state’s foreclosure process and address the state’s issues with zombie homes.
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  • New York comptroller: State’s foreclosure crisis far from over

    New report shows increasing foreclosures outside NYC
    Despite efforts to combat the glut of foreclosures that have choked New York’s court system and blighted many of the state’s neighborhoods, a new report from the New York comptroller shows that the state’s foreclosure crisis is nowhere close to being resolved – and in many cities, it’s actually getting worse.
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  • Lawsky: New York’s foreclosure system is broken

    Calls for reforms in state’s foreclosure process
    The state of New York is still facing a massive glut of foreclosures that are choking an over-stressed system and threatening the state’s homeowners, New York Department of Financial Services Superintendent Benjamin Lawsky told the crowd at the Mortgage Bankers Association’s National Secondary Market Conference on Tuesday morning. “The state’s foreclosure process is broken and badly in need of change,” Lawsky said.
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  • New York’s foreclosure backlog isn’t going away until 2016, at least

    Prospects slightly better in New Jersey
    "In New York, the recent private-label RMBS foreclosure backlog of 38,213 loans could be cleared in approximately 5.7 years using the last 12 months’ average exit rate of 1,684 loans and in approximately 2.4 years using the 2008-10 average rate of 4,059 loans," Moody’s Investors Service said in a new report.
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