New York lawmakers just made Brooklyn homeowners’ lives easier!
This past summer, the New York state legislature and Governor Andrew Cuomo met to discuss solutions to the illegal property seizure crisis facing the city. As a result, two bills were signed into law.
Deed Theft Law
The first aims to put a stop to the wave of deed theft, deed fraud and predatory practices sweeping throughout Bed-Stuy, Crown Heights, Flatbush, and Brownsville. As gentrification continues and property values throughout Central Brooklyn skyrocket, property predators are targeting property owners of color and senior citizens in an attempt to cash in. This destabilizes the community and often leads to displacement, homelessness, and (in some cases) jail time.
The newly passed Deed Theft Law protects Brooklynites by:
- Outlawing deceptive or abusive behaviors, such as pretending to be a government official, taking temporary ownership of a deed, or harassing a homeowner;
- Eliminating the requirement that a homeowner posts a bond in order to file a lawsuit to stop a deed transfer, and preventing loan modification consultants from demanding fees upfront for services;
- Giving homeowners more time to rescind transactions with distressed property consultants;
- Providing a clear legal path to restore a property’s title when there’s been a criminal conviction based on fraudulent actions concerning a property transfer
Several other measures against foreclosure were passed by legislature and are waiting to be signed into law by Governor Cuomo.
IMPACCT Brooklyn has always been instrumental in trying to combat this problem.
“We are a founding father of New Yorkers for Responsible Lending and in 2006, all the groups collectively campaigned and were able to get The Home Equity Theft Protection law passed,” housing counselor Bonita Dowling stated.
“At that time, many seniors were targeted. They were equity rich and cash poor. We held countless events to educate our community. Homeowners trust their housing counselors and many homeowners came to us with letters and offerings of lower payments and assistance with their mortgages. The letters had the monogram of HUD, but they were all fraudulent. We saved so many homeowners from falling in those traps. Now we have different players coming to homeowners with attaché cases of money and similar scare tactics.”
“We again must let homeowners know that we are here to assist them,” she finished.
Sidewalk Repairs
The city also deemed that property owners are no longer responsible for sidewalk damage caused by city-owned trees. In the past, the city would issue liens and violations for cracked and uneven walkways, making them a huge quality of life concern for citizens who were hit with an uncontrollable liability after investing their savings into a home. Going forward, the city will be responsible for fixing sidewalks damaged by street tree roots, as opposed to issuing liens on one-, two-, or three-family properties with sidewalk damage.
Are you a homeowner facing foreclosure, dealing with mortgage issues with their loan servicers and/or lenders, or do you need assistance with other services related to their house or co-op/condo? Turn to IMPACCT Brooklyn! For more than half a century, we have been passionate advocates and educators for responsible homeownership. Learn more about the services we offer homeowners and schedule counseling today!
