In New York State a foreclosure is a legal action in which the mortgage holder obtains title to a property due to a borrower defaulting on a loan. Once a judgment is obtained, the foreclosed property is auctioned off. A deed, known as a “Referee Deed,” is then created, which transfers title of the real property to the highest bidder. Continue reading “Buying A Foreclosed Property May Lead To Eviction”
Last April, the U.S. Department of Housing and Urban Development (HUD) announced its new guidelines on fair housing. A housing provider may not refuse to rent or renew a lease to an individual based on his or her criminal background and those who do may be in violation of the New York Fair Housing Act. Prior to this action, denying someone housing based on past criminal records was not considered discriminatory.
Continue reading “HUD Guidelines Bring Complex Issues for New York Real Estate”