Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Saturday, March 13, 2010
Inspectors Give Dozens Of High-Rent NYC Tenants The Boot After Discovery Of 60 Resident'l Units Carved Out Of 16-Story "Deathtrap" Sans Proper Permits
In New York City, the New York Post reports:
Dozens of families who thought they found luxury housing in a Manhattan landmark were homeless [this week] after city inspectors ordered them out of what one source described as a "deathtrap" that was illegally converted from office space. Inspectors from the Buildings and Fire departments slapped a vacate order on the 16-story landmark building at 1182 Broadway Tuesday after getting a tip that the office building was turned into an apartment building without any permits.
But inspectors also found that the building, which can be legally used only for offices, was converted without essential fire-safety systems, including sprinklers, alarms and a second stairway for residents to use in emergencies. "You've got one staircase in this building and no sprinkler system. If there's a fire, what's going to happen? This was a deathtrap," said a source familiar with the city's investigation, which was prompted by a tip phoned in late Monday.
The owners, who carved 60 apartments out of the top 13 floors, never received city permits to perform the renovations, or to convert the building to residential. Tenants, many with young children, were devastated by the sudden rush from their homes. [...] The building is owned by Mocal Enterprises, whose principals include Calvin Haddad and his daughter, Dana Haddad, who lives in the building, where monthly rents range from $2,900 to $5,000 for the one- and two-bedroom units.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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