Items Tagged with 'New York City real estate'

ARTICLES

  • Flat-fee real estate agency Purplebricks plans expansion to New York

    U.K. company first launched in U.S. in September 2017
    Last year, flat-fee real estate agency Purplebricks expanded into the U.S. after building a successful business in the United Kingdom and Australia. Purplebricks’ first foray into the U.S. was Los Angeles. Now, the company is plotting the next phase of its U.S. expansion and is looking to the opposite coast.
    Read More
  • New York City foreclosures rise to post-crisis high

    Jump nearly 60% in one year
    There haven’t been this many homes in foreclosure in New York City since the housing crisis, but the news isn’t quite as bad as it seems. These foreclosures aren't new. In fact, many of them have been in the works for many years.
    Read More
  • New York City guarantees legal representation to low-income residents facing eviction

    City will pay for legal counsel for low-income tenants
    Over the last several years, New York City has been aggressive in seeking to decrease the number of evictions that happen in the city, going so far as set aside nearly $50 million in 2014 and 2015 to provide legal services for residents facing eviction. Now, the city is taking its fight against evictions to another level by becoming the first city in the country to guarantee legal representation to low-income tenants who are facing eviction.
    Read More
  • U.S. to continue investigating money laundering by foreign real estate buyers

    Title companies required to reveal identities of high-end cash buyers
    The federal government will continue investigating whether foreign buyers are using high-end U.S. real estate to launder money after an expanded investigation found that potentially illicit activity is behind as many as one in three cash purchases from foreign buyers in select markets.
    Read More
  • U.S. expands investigation into money laundering by foreign cash buyers

    Government finds evidence of suspicious activities in high-end real estate
    The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a "significant" portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.
    Read More
  • New York unveils $13 million program for cities' fight against zombie homes

    New grant program uses Morgan Stanley settlement funds
    The state of New York takes its next steps in its ongoing battle against neighborhood blight caused by abandoned foreclosures by unveiling a new program designed to help cities throughout the state fight back against the rise of zombie homes. And the state is using money from a massive settlement with Morgan Stanley to do it.
    Read More
  • 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.
    Read More
  • Groundbreaking ruling? Federal jury finds Emigrant Bank liable for predatory lending

    Plaintiffs' lawyers claim decision is first jury verdict in "reverse redlining" case
    In what the plaintiffs’ attorneys are calling a "first of its kind" decision, a federal jury in Brooklyn ruled this week that Emigrant Savings Bank and Emigrant Mortgage Company engaged in predatory lending by "aggressively marketing toxic mortgages to Black and Latino homeowners with poor credit" in the run-up to the housing crisis.
    Read More