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.
Sunday, March 13, 2016
State AG 'Bigfoots' Gentrifying NYC Landlord Into Backing Down From Sleazy Attempt To Arm-Twist Tenants Into Signng Lease Renewal Riders Preventing Them From Suing For Future Damage From Planned Renovation Project; One Provision Blocked Residents From Suing Over Lead Paint Dust
In New York City, the New York Daily News reports:
The owner of a Manhattan building where the real estate market is white hot told rent-regulated tenants they couldn’t sue if a planned construction project damaged their property.
Starting in July, Atlas Capital Group LLC sent out the no-sue rider on renewal leases — a move the state attorney general says is blatantly illegal.
Eric Schneiderman ordered Atlas to cease and desist, charging that the rider “runs afoul of numerous state and local tenant-protection laws,” according to a letter sent to Atlas Feb. 16.
“Landlords should be on notice: The attorney general will take action against anyone using illegal tactics — including thinly veiled threats — to force New Yorkers out of their homes,” said Schneiderman spokesman Matt Mittenthal.
After the warning from Schneiderman and an inquiry from the Daily News, the company backed down.
“We look forward to making significant upgrades and improvements to the lobbies and common areas for our tenants. The residents who rent our apartments are important to us, so we chose to be fully transparent about the impending work,” said Jackie Renton, an Atlas executive. “We listened carefully to our tenants, and after meeting with them, decided to withdraw the rider going forward.”
Atlas bought the 246 apartments in two aging prewar buildings on W. 23rd and W. 24th Sts. in Chelsea, one of the hottest real estate locations in New York. Tenants started noticing last summer construction riders that came with their lease renewal papers.
Laura Shapiro, a rent-stabilized tenant who has lived at the W. 23rd St. address for decades, was shocked when she saw the language barring legal recourse due to construction damage. She noted the rider even included a provision barring tenants from suing over lead paint dust.
“I was horrified. It was like somebody was choking me,” she said. “It was written in a way that they wouldn’t renew the lease if you didn’t sign it.”
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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