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, September 22, 2012
Class Warfare Breaks Out In NYC 'High' Rise Between Haves, Have Nots; Cannabis Smoke Wafting Thru Vents Triggers Call By Rich To 'Weed' Out Pot-Smoking Poor
In New York City, the New York Post reports:
Class warfare has broken out at a swanky Midtown apartment complex, where high-end renters are tussling with their lower-income neighbors over pot use and messy hallways.
Some of the well-to-do residents at tony 1 Columbus Place are blaming their less-fortunate neighbors — who live in the affordable-housing section in the concierge building — for the pot smoke that wafts through their vents and the cigarette butts that litter their halls.
The richer residents, who pay up to nearly $7,000 a month in rent, say the pungent pot odor and litter had gotten so bad that the building’s management had to send security teams to patrol the hallways. “Pot was coming through the vents,” according to a resident in the south tower of the double-high-rise complex near Columbus Circle. “It stopped for a little bit when they were using security, but as soon as they left, it started up again.” The landlord even tacked a stern warning in the elevators threatening to evict any tenant caught with pot, another resident said.
“I don’t expect illegal things to be happening in this building,” said the resident, Lidia Fluhme, 31, who pays nearly $5,300 for a two-bedroom unit in the building, which boasts a gym and roof terrace. “We feel that it’s unfair that we have people living in the same building on the same floor and they pay a fraction of what we do. If you need special housing, there are so many places other than a block away from Central Park.”
Nearly 150 of the building’s 700 units are set aside for low-income housing under the state’s 80/20 initiative. The program allows the developer to use tax-exempt bonds for construction, thus greatly reducing costs, as long as it sets aside 20 percent of the housing for tenants earning no more than 50 percent of an area’s median income.
The median household income for Columbus Circle is about $93,000. That means to qualify for a low-income slot at 1 Columbus Place, tenants would have to make no more than $46,000.
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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