Yearly Archives: 2012

Albany, NY - November 30, 2012 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that PHH Mortgage Corporation will move forward with a $35 million expansion plan in Amherst, Erie County that will retain 400 jobs that were in jeopardy of being lost after HSBC Bank announced major job reductions last year

Mineola, NY - November 29, 2012 - (RealEstateRama) -- With a wintery mix over the region, Nassau County Executive Edward P. Mangano today activated Nassau’s Warm Bed homeless program which providing shelter relief to individuals and families during cold winter months. The Nassau County Warm Bed Hotline, 1-866-WARM-BED (1-866-927-6233), will operate 7 days a week and run through March 31, 2013. If winter conditions persist beyond March 31st, the program will continue until warmer weather arrives

WASHINGTON, D.C. - November 29, 2012 - (RealEstateRama) -- Yesterday, President Barack Obama signed into law H.R. 2606, the New York Natural Gas Supply Enhancement Act sponsored by Congressman Michael Grimm and Congressman Gregory W. Meeks. The bill allows for the construction and operation of natural gas pipeline facilities in the New York portion of the Gateway National Recreation Area, creating up to 300 local construction jobs, generating revenue, and bringing clean energy to New York City.

WASHINGTON, DC - November 29, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced a $621 million deal to refinance a previous mortgage at Co-op City, a large cooperative housing community that is home to more than 57,000 residents in the Bronx, New York. Today, HUD and Wells Fargo Bank N.A. closed on the loan that will preserve long-term affordable housing for these families and significantly lower annual interest payments for the building’s owner over the next 35 years. The new mortgage is backed by the Federal Housing Administration’s (FHA) General Insurance and Special Risk Insurance (GI/SRI) Fund.

NEW YORK, NY - November 28, 2012 - (RealEstateRama) -- In its latest Quarterly Report on Household Debt and Credit, the Federal Reserve Bank of New York announced that in the third quarter, non-real estate household debt jumped 2.3 percent to $2.7 trillion. The increase was due to a boost in student loans ($42 billion), auto loans ($18 billion) and credit card balances ($2 billion).

New York, NY - November 26, 2012 - (RealEstateRama) -- From November 15, 2012 through January 1, 2013, NYCHA management staff in developments affected by Hurricane Sandy will not start any new housing court actions or perform evictions for residential tenants as follows

New York, NY - November 26, 2012 - (RealEstateRama) -- “Our recovery from Hurricane Sandy continues to move ahead on all fronts. That includes important steps to help New Yorkers get back in their homes, help students get back in their familiar schools and help neighborhood businesses get back on their feet. And let me just touch on what we’re doing in each area.

New York, NY - November 21, 2012 - (RealEstateRama) -- Now that electricity, elevators, heat and hot water have been restored in all developments impacted by Hurricane Sandy, the New York City Housing Authority has moved to the next phase of its recovery plan: remediation and repair for individual housing units. NYCHA will clean and remove mold or mildew created by Hurricane Sandy inside individual apartments, in addition to efforts to remove all trash and debris from hallways, stairs and common areas. The work will first be concentrated in NYCHA developments in Far Rockaway and Coney Island where there was significant flooding.

NEW YORK, NY - November 21, 2012 - (RealEstateRama) -- Attorney General Eric T. Schneiderman today filed a Martin Act complaint against Credit Suisse Securities (USA) LLC and its affiliates for making fraudulent misrepresentations and omissions to promote the sale of residential mortgage­-backed securities (RMBS) to investors. According to Attorney General Schneiderman’s lawsuit, Credit Suisse deceived investors as to the care with which they evaluated the quality of mortgage loans packaged into residential mortgage-backed securities prior to 2008. RMBS sponsored and underwritten by Credit Suisse in 2006 and 2007 have suffered losses of approximately $11.2 billion

NEW YORK, NY - November 19, 2012 - (RealEstateRama) -- Attorney General Eric T Schneiderman today warned Wells Fargo to reverse a new policy that temporarily suspends review of mortgage relief applications from New York homeowners, many of whom are still struggling to recover in the aftermath of Hurricane Sandy. In a letter to Wells Fargo, Attorney General Schneiderman warned the bank that its directive to suspend “all home preservation reviews and decisions” across the Northeast “in order to await further instructions from FEMA” likely violates the terms of the National Mortgage Settlement

NEW YORK, NY - November 19, 2012 - (RealEstateRama) -- Following the release of the first official report on the implementation of the National Mortgage Settlement today, Attorney General Eric T. Schneiderman indicated that he was encouraged by its progress on behalf of New York State homeowners. The report, which was issued today by the settlement’s national monitor, Joseph Smith, showed that over $625 million in consumer relief has been delivered to New York homeowners since March of this year.

New York, NY - November 19, 2012 - (RealEstateRama) -- U.S. Senators Charles Schumer and Kirsten Gillibrand released the following statement Friday after the General Services Administration issued the needed environmental approvals to allow the $22 million Customs Commercial Building renovations to move forward at the Peace Bridge Plaza

New York, NY - November 15, 2012 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano and Governor Andrew M. Cuomo today announced that FEMA will issue Emergency Assistance for New Yorkers whose homes were affected by Hurricane Sandy. At the Governor’s request, FEMA will bring in contractors in order to perform basic repairs so that residents can return to their homes while more long term repairs are in progress. Only residents in the federally-declared counties are eligible to participate in this program. Homeowners in these localities who want to apply for assistance should contact their county or local officials to receive contractor support. Homeowners must be registered with FEMA, which they can do by calling 800-621-FEMA (3362)

New York, NY - November 15, 2012 - (RealEstateRama) -- New York State, Local and Tribal Governments can now apply for FEMA assistance that may enable families to remain in their storm-damaged homes while permanent repairs are completed, or return to their home while repairs are ongoing.

YONKERS, NY - November 14, 2012 - (RealEstateRama) -- Yonkers Mayor Mike Spano today ordered the Department of Housing & Buildings to waive all permit fees directly relating to the repair of damage caused by Hurricane Sandy. The Mayor also announced an expedited permitting process to prevent delays in critical repair work.

New York, NY - November 12, 2012 - (RealEstateRama) -- "The first is getting emergency help to the people who need it the most. That's why over the past eight days, distribution sites we've established have provided nearly two million prepared meals, nearly a half-million bottles of fresh water, 110,000 blankets, and other essential supplies to the people who need them most

New York, NY - November 9, 2012 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano, in partnership with New York State Governor Andrew Cuomo, today announced that the New York State Department of Financial Services will be available at Cedar Creek Park daily from 8am to 11pm to offer residents advice on how to file an insurance claim for property damage from Hurricane Sandy. Representatives will also be presence from several of the nation’s largest insurance companies, including: Allstate, MetLife, New York Life, Travelers and USAA

November 9, 2012 - (RealEstateRama) -- NYCHA is working to restore power, heat and hot water to developments currently without service due to the storm. During the past week NYCHA has returned heat and hot water to many buildings across the city and is working with the utility companies and other government agencies to restore these essential services to every NYCHA resident as quickly as possible

New York, NY - November 9, 2012 - (RealEstateRama) -- Mayor Bloomberg today announced new temporary guidelines to speed heating oil deliveries and boiler repairs that will ensure New Yorkers can heat homes and businesses. As a result of Hurricane Sandy, sufficient quantities of the low sulfur oil required by New York City law have been harder to obtain and distribute. To ensure that New Yorkers have access to heating fuel, the City has temporarily suspended the sulfur limits, which will allow the use of oils with higher sulfur content through December 7th. The City also has streamlined emergency work permits for boiler repairs and replacements to reduce the application timeline by as much as two weeks

NEW YORK CITY - November 8, 2012 - (RealEstateRama) -- Residents awaiting inspectors sent by the Federal Emergency Management Agency can begin their cleanup process and remove trash prior to the arrival of FEMA inspectors. If you do not have insurance to cover your disaster-related damages, an inspection performed by a FEMA inspector is required to process your application.

WASHINGTON, D.C. - November 8, 2012 - (RealEstateRama) -- As part of ongoing efforts to ensure families and individuals impacted by Hurricane Sandy get the support they need, the Federal Emergency Management Agency (FEMA) announced today that the agency is increasing the amount of rental assistance that it may provide eligible disaster survivors in New York and New Jersey. The rental amount, based on existing HUD Fair Market Rates (FMR) for fiscal 2013, is being increased by an additional 25 percent.

New York, NY - November 8, 2012 - (RealEstateRama) -- Mayor Michael R. Bloomberg and Airbnb today announced the launch of a new platform to help connect victims of Hurricane Sandy with free housing options. Airbnb is now providing a platform to connect those who are eager to offer free housing to those who have been displaced by the storm. The entire process will be free, but Airbnb will still provide customer service, insurance for hosts and other services.

GARDEN CITY, NY - November 8, 2012 - (RealEstateRama) -- Rep. Carolyn McCarthy (D-NY4) announced that the amount of temporary rental assistance for storm survivors in her district available through the Federal Emergency Management Agency (FEMA) is increasing by 25 percent.

Albany, NY - November 7, 2012 - (RealEstateRama) -- Governor Andrew M. Cuomo today announced that several major state-chartered banks and mortgage servicers have agreed to offer relief for home mortgage borrowers in the areas affected by Storm Sandy, including, in many cases, no foreclosures and no late fees for 90 days.

Torrance, CA - November 6, 2012 - (RealEstateRama) -- Charlotte-based Mountain Real Estate Capital, LLC (Mountain) announces the acquisition of a significant portion of remaining land portfolio assets from Forest City Land Group. This includes master planned communities across the country totaling approximately 1,200 residential lots. The projects include a mix of finished lots, partially finished lots and undeveloped land for residential and commercial development. The terms of the transaction were not disclosed.