New York, NY - February 8, 2010 - (RealEstateRama) — Mayor Michael R. Bloomberg and Department of Environmental Protection Commissioner Cas Holloway today launched the Water Debt Assistance Program, a new initiative that will temporarily relieve homeowners at risk of foreclosure of past-due water and sewer debt. The program is a component of Mayor Bloomberg’s 2010 State of the City pledge to launch the most ambitious home foreclosure prevention effort of any city in the nation. more »

Washington, DC - February 5, 2010 - (RealEstateRama) — U.S. Senator Kirsten Gillibrand introduced legislation this week to encourage the installation of 10 million solar systems on the rooftops of homes and businesses over the next decade. According the New York State Department of Labor report from 2009, New York has nearly 75,000 jobs associated with solar manufacturing and installation in more than 7,000 New York companies.  Based on average wages, New York’s solar industry payroll is approximately $4.8 billion dollars.  more »

New York, NY - February 4, 2010 - (RealEstateRama) — Halstead Property Development Marketing and RGS Holdings, LLC, in conjunction with Goldman Sachs Urban Investment Group and JP Morgan Chase Community Development, today announced that 2280 Frederick Douglass Boulevard has been approved by the Federal Housing Administration’s mortgage program. The 12-story new construction condominium development in Harlem, will now allow qualified buyers to purchase a new home with a down payment between 5 and 10%. more »

Washington, DC - February 4, 2010 - (RealEstateRama) — With the strength of the housing market linked directly to overall economic prosperity, Congressman Maurice Hinchey (D-NY) and Congressman Elijah Cummings (D-MD) are leading the effort in Congress to convince the Obama administration and Federal Reserve to reverse course and continue several key programs due to soon expire or change that are critical to keeping mortgage rates low and making homeownership more attainable. more »

Albany, NY - February 4, 2010 - (RealEstateRama) — Governor Paterson today issued the following statement regarding the order of foreclosure for Riverton Houses, in Harlem: more »

New York, NY - February 3, 2010 - (RealEstateRama) — New York State Senate Finance Committee Chair Carl Kruger and Assembly Ways and Means Committee Chair Herman “Denny” Farrell will conduct a joint budget hearing to examine the Governor’s proposed budget relating to the development and preservation of housing across the state. more »

New York, NY - February 2, 2010 - (RealEstateRama) — New York State’s housing finance agencies, for the third year in a row, led the country in financing multifamily and single-family affordable housing in 2009. more »

JERICHO, NY - February 1, 2010 - (RealEstateRama) — Despite a tight lending market, Metropolitan Realty Associates, the owner of the Sunrise Business Center in Great River, and its equity partner Angelo, Gordon & Co., LP. have successfully negotiated an extension of their mortgage on the 388,500-square-foot Class A office complex, President Joseph A. Farkas announced today. more »

New York, NY - February 1, 2010 - (RealEstateRama) — With St. Vincent’s Hospital on the brink of bankruptcy, U.S. Senators Chuck Schumer and Kirsten Gillibrand and Congressman Jerrold Nadler (D-Manhattan) urged the U.S. Department of Housing and Urban Development (HUD) to help the only Level-1 trauma center serving neighborhoods from Midtown to Downtown stave off closure. Lawmakers warned that closing the hospital’s emergency room and trauma center would be devastating to the community. more »

NEW YORK, NY - January 28, 2010 - (RealEstateRama) — The boards of the New York State Affordable Housing Corporation (AHC) and the State of New York Mortgage Agency (SONYMA) today approved $38.9 million in grants and mortgage insurance commitments to preserve 296 units of housing in New York State. more »

WASHINGTON, DC - January 25, 2010 - (RealEstateRama) — The Federal Housing Administration’s Mortgagee Review Board (MRB) today immediately and permanently withdrew the FHA approval of Premium Capital Funding, LLC, a Jericho, New York-based lender doing business as TopDot Mortgage. Today’s action prevents TopDot from participating in FHA programs and seeks a monetary penalty of $674,000. more »

New York, NY - January 28, 2010 - (RealEstateRama) — PREET BHARARA, the United States Attorney for the Southern District of New York, announced that Manhattan real estate developer MICHAEL HERSHKOWITZ was sentenced today to four years in prison for his participation in a $27 million Ponzi scheme involving fraudulent loans secured by nonexistent mortgages. more »

NEW YORK, NY - January 28, 2010 - (RealEstateRama) — The board of the State of New York Mortgage Agency (SONYMA) today approved a commitment to insure a $37.5 million mortgage on a 144-unit apartment building in Brooklyn that was originally built to be sold as condominium units. more »

Albany, NY - January 28, 2010 - (RealEstateRama) — It’s never been easier to find out how to cut your energy costs and make your home more environmentally friendly than at this year’s Great Northeast Home Show.  Held this weekend at the Times Union Center in Albany, this year’s Home Show offers more resources than ever for homeowners who are looking for ways to save money by using less energy. more »

New Data shows 2,399 foreclosures in Erie County. Senators unveil new law that will help protect homeowners and curb property values from plummeting

NEW YORK, NY - January 27, 2010 - (RealEstateRama) — Senator Jeff Klein (D-34th Senate District), Senator William Stachowski (D-58th Senate District) and Senator Antoine Thompson (D-60th Senate District) were joined by officials from the Town of Cheektowaga and City of Buffalo, housing group representatives from HomeFront, WestSide Neighborhood Housing Services, West New York Law Center, AmeriCorps and Old First Ward presented new data Wednesday showing the impact of neglected foreclosed properties in Erie County and announced a new New York State law that will help save neighborhoods across the state. more »