Tag: foreclosed properties

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Looking at Shadow Inventory

New York Shadow Inventory Shadow Inventory The Wall Street Journal had a very interesting article written by Nick Timiraos (a link to the article is provided below) regarding shadow inventory.  The article talks about interesting topics such as the decrease in the new homes being built and its effect on investor interest in REO (bank […]


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Tenants and Foreclosure

Many tenants are finding out that the property they are renting has been foreclosed on. As I stated in an earlier post, NY foreclosure law now requires that tenants residing in foreclosed properties receive written notification of the change in ownership of the property. The law also requires that the tenant be allowed to remain […]


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New York Foreclosure Law

In 2009, Governor Paterson signed foreclosure legislation aimed at protecting homeowners and tenants. Protection For Homeowners: NY foreclosure law now requires that a 90-day pre-foreclosure notice be sent to all homeowners facing foreclosure. This notice is sent prior to the start of the foreclosure action and allows additional time for many homeowners to work with […]


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