City Room has details about the group of Occupy Wall Street members who have taken over a house in East New York that was foreclosed in 2008. According to the story, the home is a wreck: It lacks running water and electricity, and there is mold covering the ceiling and old furnishings left to rot that need to be removed. The plan is to make the house habitable for a woman named Tasha Glasgow, her companion and her two children, who are currently squatting in an apartment in East Rockaway. A person who lives across the street from the East New York house said she saw the occupation as positive for the neighborhood, noting that the vacant building had attracted criminal activity and “we need the house to be occupied by somebody.”
Foreclosed in Brooklyn: House Repairs as Protest [City Room]
Photo by Brennan Cavanaugh


What's Your Take? Leave a Comment

  1. If the house is being occupied by squatters, how would the bank ever sell it?

    Squatters have special protections after posession of 30 days.

    You would need to know the name of who the squatters are (good luck) and go to housing court to get posession. Not attractive to investors to say the least.

    So the more adverse posession of foreclosed homes, the smaller the recoveries, larger the writeoffs and the longer the housing crisis due to not enough bank capital to fully mark down these properties.

    btw full legal adverse posession in NY is 10 years.

1 2 3 10