Issues: Predatory Lending

CBS National News Reports on Senator Klein's Work on the Ripple Effects of Foreclosures

Senator Jeff Klein, (D-Bronx/ Westchester) is featured in a national story from CBS news on the ripple effects of the foreclosure crisis. The piece focuses on the Bronx-based Marsh family, whose home became unlivable last spring due to damage caused by a fire at an adjacent foreclosed home.

November 5, 2011
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Huffington Post Op-Ed: Beyond the Occupation

By State Senator Daniel Squadron and Assemblyman Rory Lancman

Much has been made of the lack of specific demands of the Occupy Wall Street protesters.   But the themes underlying the protests are clear: accountability on Wall Street for the financial crisis that tanked the global economy; shared sacrifice as we pull ourselves out of an economic mess that the middle class and working poor didn't create; and a political system controlled by people, not corporations.

October 7, 2011
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SENATOR MONTGOMERY HONORS LIFETIME ACHIEVEMENT AWARD RECIPIENT DOROTHY BURNHAM, A BROOKLYN “RENAISSANCE WOMAN”

The lifetime achievements of Brooklyn native Dorothy Burnham were recognized and lauded by NYS Senator Velmanette Montgomery (D-Brooklyn) during the reading of a Senate resolution, which was unanimously passed by the full Senate during the final days of the 2011 Legislative Session. The resolution paid tribute to Dorothy Burnham’s many notable contributions to our public education system, the advancement of civil rights, and to the promotion of racial and economic equality. Ms. Burnham was also honored for her designation as recipient of the Lifetime Achievement Award by the New York Friends of the People's World. “Dorothy Burnham is a Renaissance Woman,” said Senator Montgomery.

July 11, 2011
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Senate Passes Interstate Compact For Juveniles

Agreement Will Formalize Procedures For Dealings With Youthful Offenders

The New York State Senate passed legislation (S.2551A) this week introduced by Senator Patrick M. Gallivan (R,C,I – 59th District), that would make New York State a full member to The Interstate Compact For Juveniles. The Compact is a legal contract between all 50 states, establishing formal procedures to facilitate the return of runaways, and a uniform system to manage juvenile offenders residing in other states.

May 19, 2011
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NYS Senator Eric Adams Unites With Community Organizations (NY Communities For Change) And Constituents To Urge Chase Bank To Provide Affordable Mortgage Modifications For All New Yorkers

On Saturday, April 16, 2011, NYS Senator Eric Adams united with community organizations and constituents to urge Chase bank to provide affordable mortgage modification for all New Yorkers.

Chase, the country’s third largest mortgage servicer, has done a woefully inadequate job in mitigating high-cost, defaulting home loans.  According to the Center for New York City Neighborhoods Inc., only 6% of Chase-serviced borrowers have obtained a permanent loan modification; 80% of homeowners requesting a mortgage modification from Chase have never received proper consideration. 

April 19, 2011
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Foreclosures

News From New York State

Senator Shirley L. Huntley

For Immediate Release: August 17, 2010

Contact: Ami Shah | shah@senate.state.ny.us | (518) 455-3531

Senate Bill Guaranteeing Protections for Tenants of Foreclosed Buildings Signed into Law

Senator Huntley: Prior Law Allowed Tenants to be Forced from Homes

without Notice

August 16, 2010
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Senator Jose Peralta Urges President Obama to Nominate Dr. Elizabeth Warren as Director of the Consumer Financial Protection Bureau

Click here to view Senator Peralta's letter to President Obama.

“As the Chair of the New York State Senate’s Consumer Protection Committee and State Senator representing over 300,000 New Yorkers, I have seen firsthand the devastating effects these challenging economic times have had on Americans. These distressing financial problems are often times compounded by the fact that many consumers simply do not know their rights and in many cases because they have been victims of predatory credit products.

August 3, 2010
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Senator Peralta Tackles Foreclosure

Queens Chronicle

by Elizabeth Daley

7/29/2010

Inspired by the high foreclosure rate across the country and in Queens, state Sen. Jose Peralta (D-Jackson Heights) joined allies City Comptroller John Liu and Assemblyman Hakeem Jeffries (D-Fort Greene) at City Hall on Tuesday to promote legislation requiring lenders and brokers to provide consumers with a document explaining the mortgage process, consumer rights and protections.

Peralta urged Gov. David Paterson to sign the legislation shortly after speaking to residents facing foreclosure in his district at a workshop last Thursday.

 

July 29, 2010
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Senator Peralta Calls on Governor Paterson to Sign Mortgage Bill of Rights Legislation Prompted by Record Number of Foreclosures

Senator Jose Peralta, Assemblymember Hakeem  Jeffries and Comptroller John Liu are calling on Governor Paterson to sign the Mortgage Bill of Rights  Legislation, requiring  mortgage lenders and brokers to provide consumers with a detailed  document explaining the mortgage process and consumer rights and protections.  This bill will ensure that consumers receive ample information before they begin the voluminous mortgage  process. 

July 27, 2010
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KLEIN HOLDS SIGN UP FOR REALTOR NON-SOLICITATION LIST

Senator Klein Opens Office for Bronx Homeowners to Register to Protect Themselves from Unscrupulous Realtors

 

July 9, 2010
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Foreclosure Prevention

News From Senator Shirley L. HuntleyFor Immediate Release: July 8, 2010Contact: Ami Shah | shah@senate.state.ny.us | (518) 455-3531

Senate Moves To Empower Homeowners Facing ForeclosureLaw penalizes lenders who fail to engage in good-faithforeclosure settlement negotiations

Senator Shirley L. Huntley (D-Jamaica) along with the State Senate has passed legislation (S.7798A) empowering homeowners facing foreclosure to take action when lenders fail to meet their obligation of entering into good-faith settlement negotiations at “settlement conferences.”

July 7, 2010
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“ACCESS TO JUSTICE IN LENDING” ACT PASSES BOTH HOUSES OF STATE LEGISLATURE

Legislation Will Level the Legal Playing Field for Homeowners Facing Foreclosure

 

June 23, 2010
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Public Protection Budget Ensures Equal Justice For All New Yorkers

Majority adopts Interest On Lawyer Account funding in legislation

June 22, 2010
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SENATE PASSES KLEIN BILL TO PROTECT HOMEOWNERS

Bill Will Significantly Decrease Pervasive Loan Modification Scams

 

April 26, 2010
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New Foreclosure Law to Save Homes and Preserve Neighborhoods

Sweeping foreclosure regulations to finish going into effect April 15

Law will require banks to maintain foreclosed properties and make it easier for homeowners to avoid foreclosure

April 7, 2010
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Senator Foley to Host Foreclosure Prevention Event at William Floyd High School

On Saturday, May 1st from 10 am – 4 pm, Senator Brian X. Foley will host a mortgage foreclosure prevention event at William Floyd High School located at 240 Mastic Beach Road, Mastic Beach, NY 11951.

May 1, 10:00 AM - 4:00 PM
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Sen. Foley and Touro Law Center Launch Pro-Bono Foreclosure Clinic in Central Islip

Foreclosure/Bankruptcy Law Clinic will be first of it's kind, provide free services to local communities battered by foreclosure crisis

March 23, 2010
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Sen. Foley Speaks on the Passage of Landmark Mortgage Foreclosure Bill

Senator Brian X. Foley (D – Blue Point) announced the passage of landmark legislation (S. 66007) that protects homeowners across New York State from the foreclosure crisis.

November 19, 2009
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November 14, 10:00 AM - 4:00 PM
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