New Foreclosure Law for New York
A new state law aimed at addressing foreclosures and related side-effects is set to go into effect on April 15, reports Crain’s. In addition to expanding incentives for loan modification beyond the sub-prime level and toughening anti-scam measures, the bill that was passed late last year would also require lenders to maintain foreclosed homes, both…
A new state law aimed at addressing foreclosures and related side-effects is set to go into effect on April 15, reports Crain’s. In addition to expanding incentives for loan modification beyond the sub-prime level and toughening anti-scam measures, the bill that was passed late last year would also require lenders to maintain foreclosed homes, both for the good of tenants and to prevent blight from spreading through hard-hit neighborhoods.
Link don’t work.
http://tinyurl.com/yeduuhe
Could it backfire and compel banks, not wanting to be bothered by landlord hassles, to short sell everything and realize losses?
Why do they expand the program to prime but still call it a “subprime” problem?
***Bid half off peak comps***