Here Are The Newest Ridgewood And Glen Rock Homes For Sale 6-bedroom, 6-bathroom Heights Road home in Ridgewood is listed for nearly $2.4 million. have come up with a list of the most recent local properties to hit the market.<! More from Ridgewood-Glen Rock Patch Daily Newsletter - The latest Ridgewood-Glen Rock news delivered to your inbox every morning Breaking News Alerts - Real-time updates on breaking stories in Ridgewood-Glen RockWith the northeast Bronx still facing the highest number of foreclosures in the borough, a local councilman proposes a plan that could stave off foreclosures, coinciding with a larger goal with city officials. Councilman Andy King, representing the 11th Council District, is turning to extending the deadline on lien sales from one to two years. Liens, a collection of unpaid debts that could include water bills, are given at least one year to be paid off by the city Finance Department.

As it stands, liens are typically sold to a lien servicing company after one year. The buyer can attach more fees, potentially putting the homeowner in a deeper hole and forcing them to use money originally earmarked for mortgages to satisfy the debt. The proposal could stave off the foreclosure trend still sweeping the northeast Bronx, where properties remain on the market or distressed, creating instability in a neighborhood. “The Bronx has an increase in foreclosure activity compared to the rest of the nation,” said Daren Blomquist, an analyst with RealtyTrac, a think tank group that follows real estate trends. Figures provided by RealtyTrac show the month of March 2016 saw 256 homes that were either in default, at auction or in possession of a bank that unsuccessfully tried to auction it. These numbers reflect trends happening in the zip codes of 10466, 10467, 10469, and 10470. The real estate picture is an improvement from March 2009, three months after the housing bubble burst, when a total of 340 homes were in default, at auction or under the bank’s possession, according to figures.

Members of Community Board 12, which covers King’s district, found many residents were scammed into subprime mortgages and placed into homes they could not afford, forcing many homeowners to put their property up for foreclosure. King notes that the northeast Bronx’s working class demographics could not afford the high interest rates from these subprime mortgages. Yet these houses are not completely out of the foreclosure process. Ny Mets Ticket Donation RequestIn some cases, homeowners in default completely walk away from the home should a foreclosure notice come in the mail. Victors Tires Salt Lake City UtahBanks, fearing having to spend money to maintain a home’s upkeep, classify the home as a so-called zombie property, leaving ownership of the property in limbo.Where To Buy Showtime Abs Cbn Ticket

“The best thing to happen now is for properties to go through the foreclosure process. Once it is done with, then these properties can be in the arms of people who want to be homeowners,” said Blomquist. With homeowners teetering on foreclosure, a crop of home-buying advertisers have posted “We Buy Homes Quick” signs across the area, promising residents to relieve them of their distressed homes with no fuss. Usually these homes are sold at a reduced price than what a homeowner initially paid. King’s proposal is one of a few efforts to assist foreclosed homes. Among the most recent is the Community Restoration Program, where the City of New York looks to buy 12 homes across the borough that fall under the Federal Housing Administration. A total of $13 million through city, state, federal and private financing will be used to refinance distressed homes, thus keeping them from going to auction and preventing homeowners from losing their homes. “[The program] ensures that distressed mortgages don’t end up in the hands of the highest bidders whose goal is to profit off other people’s losses,” said New York State Attorney General Eric Schneiderman, whose office secured $5 million from settlements banks made to the state following the 2008 Great Recession.

Meantime, Governor Andrew Cuomo has made $100,000 available to spruce up vacant properties and make them more available for potential homeowners. ”There are a lot of talks that are going to continue to happen. It’s up to myself and other electeds who live in this neighborhood and who are home-owners to protect this neighborhood so that we can get home ownership back to a place that families could be proud of, communities can thrive, and everyone’s happy,” said King.The Bronx Sees Highest Increase in NYC Foreclosures Over Last Year In a report issued by real estate research site, PropertyShark, The Bronx has seen the highest increase in foreclosures in the second quarter of 2016 compared to the same time period last year—by 47%. Leading the Bronx in foreclosures is the 10473 zip code encompassing the neighborhoods of Parkchester, Soundview, and Castle Hill with 24 new foreclosures listed totaling $3,034,143 with an average lien of $379,267. PropertyShark also states that this is the highest rate of first-time scheduled foreclosures since 2010 in New York City.

In terms of raw numbers, Queens remains the epicenter of foreclosures with 302 scheduled in the same quarter with The Bronx following second with 153 properties scheduled for foreclosures. “The second quarter of 2016 saw a surge in first-time foreclosure auctions across the five boroughs to levels unseen in the past 6 years. There were 673 properties scheduled for the first time to auction, up 33% Y-o-Y, and up 31% compared to Q1 2016. Queens, Brooklyn and the Bronx  recorded substantial increases in foreclosure activity, while Manhattan and Staten Island saw a drop compared to the previous quarter. Almost half of the city’s foreclosure auctions are concentrated in Queens, mostly in its Southeast neighborhoods, an area that’s become known as the epicenter of the city’s housing bust.” With reports of unemployment dropping in The Bronx, you would think that foreclosures shouldn’t be much of an issue but the sad reality is that many people are underemployed.

There’s also the fact that many homes were overvalued with people taking out mortgages on properties that were more than the property was worth. Those are just a few of the scenarios that can lead to foreclosures in our borough. What can you do to avoid foreclosure? The United States Department of Housing and Urban Development as the following advice: Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them? Don’t ignore the letters from your lender Contact your lender immediately Contact a HUD-approved housing counseling agency Toll FREE (800) 569-4287 If you are unable to make your mortgage payment: 1. Don’t ignore the problem. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house. 2. Contact your lender as soon as you realize that you have a problem. Lenders do not want your house.

They have options to help borrowers through difficult financial times. 3. Open and respond to all mail from your lender. The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notices of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court. 4. Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office. 5. Understand foreclosure prevention options. Valuable information about foreclosure prevention (also called loss mitigation) options can be found online. 6. Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development (HUD) funds free or very low-cost housing counseling nationwide.

Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender, if you need this assistance. Find a HUD-approved housing counselor near you or call (800) 569-4287 or TTY (800) 877-8339. 7. Prioritize your spending. After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses–cable TV, memberships, entertainment–that you can eliminate. Delay payments on credit cards and other “unsecured” debt until you have paid your mortgage. 8. Use your assets. Do you have assets–a second car, jewelry, a whole life insurance policy–that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies. You don’t need to pay fees for foreclosure prevention help–use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month’s mortgage payment) for information and services your lender or a HUD-approved housing counselor will provide free if you contact them. 10. Don’t lose your house to foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately and if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional or a HUD-approved housing counselor. Comments commentsPowered by Facebook Comments