New York announces new foreclosure Proposal »
Posted By realestateinvestor 3 months, 2 weeks ago in Business & FinanceThe new proposed legislation will require 90 days warning and tougher rules.
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realestateinvestor
I'm a real estate investor. In 1998 as a real estate broker, I started writing about real estate investing. Feel free to view my ...
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bigurn3 months, 2 weeks ago
The issue here is this: Who is responsible for making good personal finance decisions? I think I am responsible for my personal finance decisions, not the state. If I make a mistake, regardless of the reason, it's my responsibility.
These requirements from New York will be easy to meet, because most lenders do similar things now. This is not useful legislation.
If NY wants to spend wisely, they should offer mortgage training to prospective buyers. At least then they couldn't say "we didn't know", which is what they are doing now from what I've seen. The funny this is, the government forms require *their* signature proving they saw the documents. The knew, they just weren't responsible enough to understand their situation.
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BoxMonkey3 months, 2 weeks ago
I know my POPs told me , the area east of Aqueduct Racetrack had 280 foreclosures recently . 280 homes vacated in an area just 2-3 miles from the scrapyards and full of crackheads . Those houses will be stripped out for it's copper and wiring . There will be no help available for vacant houses .
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