New York Buys Distressed Mortgages to Fight Zombie Homes

first_img New York Gov. Andrew Cuomo has announced that the state, working through its Community Restoration Fund, has purchased 172 distressed mortgages in high-foreclosure areas, hoping to help keep the homeowners in their homes and avoid letting more abandoned properties fill the market. To date, the Fund has invested around $10 million and purchased 570 distressed mortgages, according to Newsday.In a news statement, Cuomo said, “New York continues to fight the spread of Zombie properties by supporting homeowners seeking the American Dream and investing in at-risk neighborhoods. Through this transformative program, New Yorkers are provided the tools they need to make critical home improvements while helping communities grow stronger in every corner of the state.”Newsday reports that this latest round of purchases was funded through a mixture of more than $35 million in “privately funded debt and equity investments” and around $3 million from state settlements with lenders over foreclosure abuses. While state officials said that the primary goal was to keep the affected homeowners in their homes, the program could make some of its money back if those homeowners resume making mortgage payments.Carol Yopp, Director of Counseling at the Long Island Housing Partnership, said that helping homeowners avoid foreclosure would “ stabilize the neighborhood and have a homeowner back on the tax rolls.”While foreclosure rates have been trending downward nationwide, PropertyShark’s annual foreclosure report recently found that New York City had 3,306 homes scheduled for auction in 2017, a year-over-year increase of 58 percent. However, the number of homes entering the foreclosure process with the receipt of a lis pendens notice—a formal notice of intent to foreclose, sent from the lender to the borrower after several months of delinquency—continued the downward trend of previous years. New York City recorded 12,072 new filings in 2017, which amounted to a four percent year-over-year decrease. That’s the lowest total in a decade, with the exception of 2011’s 10,911 filings throughout the city.The state has also been moving to fight urban blight and abandoned “zombie homes” in a variety of ways. The state is considering fast-tracking foreclosure laws as other states such as Ohio and Maryland have, and in June 2016 Gov. Cuomo set up a consumer hotline to take reports of zombie properties, of which there are an estimated 6,000 within the state of New York alone. According to a yearlong Newsday analysis, vacant properties cost Long Island at least $295 million in depreciated home values.Recently, the LegalShield Foreclosure Index, one of five indices tracking multiple key economic indicators published monthly by LegalShield, dropped nearly 20 percent year-over-year, showcasing a continued national downward trend in foreclosure starts. According to the Foreclosure Index, “a recent surge in long-term interest rates has driven mortgage rates to their highest levels since 2014, which could lead to increased financial stress for homeowners with an adjustable-rate mortgage. For the time being, however, foreclosures are likely to remain muted, as the LegalShield Foreclosure Index—which is calibrated to provide an early warning signal to the market of an impending rise in foreclosure activity—points to minimal foreclosure activity in the next 2-3 months.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Andrew Cuomo Community Restoration Fund distressed mortgages Foreclosure Foreclosure Alternatives Mortgage Delinquencies New York The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago New York Buys Distressed Mortgages to Fight Zombie Homes Share Save The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: David Wharton Related Articles Previous: For Single-Family Rentals, Low Vacancy Rates Mean Rent Growth Next: Early-Stage Mortgage Delinquencies Dropped in Q4 2017 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 12, 2018 2,766 Views Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, Journal, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Andrew Cuomo Community Restoration Fund distressed mortgages Foreclosure Foreclosure Alternatives Mortgage Delinquencies New York 2018-02-12 David Wharton Subscribe Sign up for DS News Daily Home / Daily Dose / New York Buys Distressed Mortgages to Fight Zombie Homeslast_img read more

Justice PV Sanjay Kumar Of the P&H High Court Appointed As Chief Justice Of Manipur High Court

first_imgNews UpdatesJustice PV Sanjay Kumar Of the P&H High Court Appointed As Chief Justice Of Manipur High Court Nupur Thapliyal12 Feb 2021 8:11 PMShare This – x“Justice Puligoru Venkata Sanjay Kumar, currently serving as a Judge in the Punjab and Haryana High Court to assume charge as Chief Justice of the Manipur High Court.”The Central Government has notified the appointment of Justice Puligoru Venkata Sanjay Kumar, present Judge of the Punjab and Haryana High Court, as the Chief Justice of the Manipur High Court. The notification dated 12.02.2021 issued by the Ministry of Law and Justice (Department of Justice), Government of India reads: “In the exercise of the power conferred by clause (1) of Article 217…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Central Government has notified the appointment of Justice Puligoru Venkata Sanjay Kumar, present Judge of the Punjab and Haryana High Court, as the Chief Justice of the Manipur High Court. The notification dated 12.02.2021 issued by the Ministry of Law and Justice (Department of Justice), Government of India reads: “In the exercise of the power conferred by clause (1) of Article 217 of the Constitution of India, the President is pleased to appoint Shri Justice Puligoru Venkata Sanjay Kumar, Judge of the Punjab and Haryana High Court, to be the Chief Justice of the Manipur High Court with effect from the date he assumes charge of his office.” The Manipur High Court is functioning with Justice Ramlingam Sudhakar as the Acting Chief Justice since 2018.About Justice Puligoru Venkata Sanjay Kumar Born on 14th August, 1963 at Hyderabad, Justice Sanjay Kumar did his graduation in Commerce from Nizam College, Hyderabad. Thereafter, he secured Law Degree from Delhi University in the year 1988 and enrolled as a member on the rolls of the Bar Council of Andhra Pradesh in August, 1988. His father, late Sri P.Ramachandra Reddy was the Former Advocate General of Andhra Pradesh from the year 1969 to 1982. Justice Kumar was attached to the Office of his father and gained exposure to various branches of law. After the retirement of his father from the profession, he practiced independently and represented the High Court of Andhra Pradesh and Subordinate Judiciary, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited and the Special Officer, Urban Land Ceilings, Hyderabad, in the High Court of Andhra Pradesh. He also served as Government Pleader in the High Court of Andhra Pradesh from 2000-2003. Followed by this, he was elevated to the Bench as Additional Judge, High Court of Andhra Pradesh, Hyderabad, on 8th August, 2008. Justice Kumar assumed the charge as a Permanent Judge of High Court of Andhra Pradesh on 20.01.2010. Thereafter, he was transferred to the Punjab and Haryana High Court, Chandigarh, on 14.10.2019. Click Here To Read NotificationSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Save the Date for GO Fest

first_imgThe Anthem Go Outside Festival is connecting outdoor enthusiasts to the things they love.The festival, scheduled for Oct. 14-16 in Roanoke, VA, includes more activities than you can do in three days – camping, biking, boating, races, geocaching, and more. The festival is along the Roanoke River Greenway, the perfect location for testing a new bike, pair of shoes, or even a kayak.mhp_4541editWhat’s unique about Go Fest, now in its sixth year, is that it is not an ordinary sit-in-your-seat kind of event; it is designed to encourage participation and involvement. Festival-goers walk around in the beautiful backdrop of the Blue Ridge Mountains, touch and try out gear, sample food and drink, listen and dance to live music, and have fun. It’s the type of event where you can come for the day, or bring the tent and stay all weekend.mhp_8434editAnd best of all, admission and demos are free. Plus there will be plenty of live music (Karl Denson’s Tiny Universe is headlining Saturday night) and food, beverage and craft beer Fest is an easy opportunity to try new activities or test new gear. With a rich mix of outdoor amenities including to 600 miles of trails, 22 miles of urban greenways, 24 rivers and creeks, and 300,000 acres of national forest in the Roanoke Region, there is something for everyone.The event includes some fan favorites such as the Walkabout Outfitter Wild Gear Chase, Ultimate Air Dogs Dock Diving, Giant Pro Bike Rider Jeff Lenosky, the Keen Lumberjack Show, and Sprint BMX Stunt Pros.Plus, there are a few new things for 2016 including a “VIP glamping” option, silent disco dance party, a children’s strider bike race, and a gran fondo with 28, 66, and 100 mile options.Some of the biggest names in the outdoors industry will be on site with gear for you to test out. Grab a bike, sit in a kayak, or try on a new pair of shoes. And this is top-notch gear. You can take out a bike that retails for $5,000 and ride it out on Mill Mountain or test a pair of new shoes during a group trail run.slackline-joshPick the brains of experts in hiking, biking, backpacking for the best tips and techniques to make the most of your next outing. If you have been thinking about trying something new, this is the perfect opportunity to take advantage of an opportunity to learn. There will be plenty of experts on hand to help you learn to do everything from cast a fly rod to cook over an open flame, or roll a kayak.mhp_7933editWhen you need a break from the action, you’ll have ample opportunity to wind down with plenty of other outdoors-loving people just like you. There’s something for every family member to do with a Kid’s Zone full of activities and leashed dogs are welcome.mhpgofest_200While the focus of GO Fest is fun, it is a good time to stop and think about the Roanoke Region’s natural assets and how to preserve them for future generations. Learn about outdoor initiatives happening your community, conservation groups, trail building workshops, and opportunities to get involved.Learn more and make plans to come to Go Fest, Oct. 14-16, at read more

PKA becomes third Danish pension fund to join Sparinvest Property Fund III

first_imgDenmark’s PKA has joined Laerernes Pension and AP Pension in backing Sparinvest Property Fund III (SPF III), which has raised a further €90m in a second closing, bringing the total raised to €243m.There are now six investors in the fund – the first closing was last June.SPF III, a fund of funds, will continue the global value-added investing strategy of the previous fund, SPF II, according to Bo Jensen, managing partner at Sparinvest Property Investors.It will invest primarily in the Americas and Asia (40% of the portfolio each), with 20% in Europe, through carefully selected “hard to find” small and medium-sized managers with hands-on operating experience. “We find good local partners to work with, as we can’t be experts all over the world,” said Jensen.SPF III will invest only in unlisted real estate, focusing mainly on the equity quadrant.The fund will commit to 14 managers and has already invested with four: two in the US, one in the UK and one in China.It hopes to select a Japan and a further US manager by year-end.The fund will maintain a prudent leverage ratio of approximately 50% loan-to-value.Its return target is 11-13% net IRR.Jensen said SPF II, which had its final close in June 2011, had seen a “fantastic” performance, with an IRR of 13%.The new fund will build and reposition commercial real estate, including retail and office properties (making up 25% and 20% of its portfolio, respectively).Residential (25% of the portfolio) will include the development of apartment blocks in India, China and South America.Jensen said this would focus on housing for middle class and lower-income families.“We normally don’t do luxury apartments, as it is too risky, with too much competition,” he said.Around 15% of the fund will be in debt instruments.PKA has now committed €60m to the fund, having committed €50m to SPF II.Nikolaj Stampe, head of property at PKA, told IPE: “We chose the fund because we wish to invest abroad but don’t have the resources to investigate markets, especially far-flung regions like the US.“We wanted a fund of funds to spread risk. And as Sparinvest is a Danish company, it is easy to work with them, especially in terms of taxation and auditing.”Stampe said PKA could also increase its exposure to specific markets by making separate co-investments to funds SPF III commits to, with Sparinvest handling the day-to-day business.PKA’s five constituent pension funds each has an allocation of 8-10% to real estate out of the total DKK200bn (€27bn) portfolio.However, Stampe said the aim was to raise this to 10% for all five funds over the next three years, with 20% of real estate allocated to international property.Meanwhile, there will be two further closings for SPF III, in Q1 and June next year, with a final target of €400m.last_img read more

Justin Verlander ‘100%’ believes MLB is juicing balls for more home runs

first_imgIf MLB offenses continue it’s current streak into the second half of the season, players could hit a total of 6,668 homers, which would break the previous mark of 6,105.Verlander said this is intentional.”Yes. 100%. They’ve been using juiced balls in the Home Run Derby forever,” he said. “They know how to do it. It’s not coincidence. I find it really hard to believe that Major League Baseball owns Rawlings and just coincidentally the balls become juiced.”Cubs starter Jon Lester, a 14-year veteran, previously said something is up with the balls, as well. “The numbers are through the roof,” Lester told USA Today in May. “I think there’s something up with the ball. It seems almost like the ones they use in the Home Run Derby with the way it flies.”Lester ranks 42nd in home runs allowed (15) and he admitted it’s what brings people to the sport. “It’s a f—ing joke,” Verlander said, via ESPN. “Major League Baseball’s turning this game into a joke. They own Rawlings, and you’ve got (commissioner Rob) Manfred up here saying it might be the way they center the pill. They own the f—ing company. If any other $40 billion company bought out a $400 million company and the product changed dramatically, it’s not a guess as to what happened. We all know what happened. Manfred — the first time he came in, what’d he say? He said we want more offense. All of a sudden he comes in, the balls are juiced? It’s not coincidence. We’re not idiots.”Verlander has allowed a major league-high 26 home runs in 2019. But it’s not just the 2011 Cy Young award winner. A total of 11 pitchers have allowed 20 or more homers and players are on pace to break the 2017 record by a whopping 600-plus home runs. Related News Justin Verlander has an answer for this home run-heavy season.There have been 3,691 home runs already hit by the All-Star break to mark a historically high rate of 1.37 per game. This led the Astros pitcher to say that the league is “100%” juicing balls for more offense.  MLB All-Star 2019: Home Run Derby matchups rankedcenter_img Christian Yelich breaks boat window during Home Run Derby practice, someone calls police (really) “That’s the thing baseball people want to see, all of these homers, and how far they went,” Lester said. “It gives the millennials something to look at and talk about with all of the stats, spin rates, launch angles and all of that stuff.”This, however, is a cause for concern in Verlander’s eyes.”I don’t know if it’s bad or good for the game,” he said. “That’s for them to decide. I don’t think it’s great — that the true outcomes of strikeouts, homers and walks is best for the game. That’s for somebody else to decide. I talk about time a lot — how do you stack up in history? If you’re going to change something so dramatically, I think you need to make people aware.”last_img read more

Start a journey to play with the stars!

first_img Golf clubs in England are being urged to enter the Bridgestone DriveGuard Trophy and give their members the chance to play in the pro-am of one of the European Tour’s biggest events.Club events will be the first step of an adventure which could take players to one of six regional finals on a premium course, before a date in the pro-am of the Bridgestone Challenge event at Heythrop Park, culminating in the pro-am of the British Masters supported by Sky Sports at The Grove in October, hosted by Luke Donald.The club rounds will take place during March, April and May.The six regional finals will be played at Burnham Beeches Golf Club, Buckinghamshire; Ganton Golf Club, Yorkshire (pictured, image © Leaderboard Photography); West Lancashire Golf Club; Heythrop Park, Oxfordshire; Royal North Devon Golf Club; and the London Club, Kent.The top three players at each final will play in one of six teams at the pro-am of the Bridgestone Challenge Tour event in August. The winning team there will go on to play at the pro-am of the British Masters in October.The Bridgestone Driveguard Trophy is supported by England Golf and brought to you by the world’s largest tyre manufacturer. It’s free to enter and open to all club members in England – men, women, boys and girls.Competitors will also receive the following gifts when purchasing four Bridgestone DriveGuard tyres at participating retailers within six months of their club event:• An official British Masters supported by Sky Sports shoe bag• A dozen Bridgestone golf balls• A free MOT for your car after the tyres are purchased.Click here to view a video about the Bridgestone DriveGuard trophy 1 Apr 2016 Start a journey to play with the stars! last_img read more

Turning a new page: Mayank Agarwal earns maiden ODI call-up; set to replace Dhawan…

first_imgAdvertisement 237hkNBA Finals | Brooklyn Vs7Wingsuit rodeo📽Sindre E8xzpoa( IG: @_aubreyfisher @imraino ) 2lzpWould you ever consider trying this?😱9xtyCan your students do this? 🌚82Roller skating! Powered by Firework Mayank Agarwal will replace Shikhar Dhawan in the Indian ODI squad for the series against West Indies with the latter yet to recover from a knee injury. This will mark Agarwal’s second call-up for the white ball format. Advertisement Shikhar Dhawan’s injury suffered at the recently concluded Syed Mushtaq Ali trophy has not healed yet forcing the selection committee to make this call. The left-hander was unavailable for the ongoing T20 series as well with Sanju Samson roped in as a replacement.Advertisement In a media release, the BCCI claimed that Dhawan is close to recovery but not fully fit:“The BCCI Medical Team feels that while Dhawan’s stitches are off and his wound is healing gradually, he still needs some more time before he regains full match fitness,”Advertisement This marks the second occasion this year where Dhawan is ruled out of the team. The Delhi southpaw was forced to withdraw from the World Cup squad after a scintillating hundred against Australia owing to a hairline fracture on his thumb. The injury kept Dhawan out of the World Cup in England.Mayank Agarwal has arguably been one of the most consistent players in the country over the course of the last two years. After making his mark and sealing his place at the top of the order in red-ball cricket, the 28-year-old will look to translate his test cricket success over to limited overs.This will be the second occasion where Agarwal will be a part of the Indian white-ball squad after already been called-up for the World Cup earlier this year as a replacement for the injured Vijay Shankar. It seems to be seen whether Agarwal will be thrown right into the mix alongside Rohit Sharma or will KL Rahul get the nod ahead.The three-match ODI series will commence from December 15 with Chennai, Vishakapatnam, and Cuttack given the hosting rights.Here’s the updated Indian contingent for the 3 match ODI series:Virat Kohli (capt), Rohit Sharma (vice-capt), Mayank Agarwal, KL Rahul, Shreyas Iyer, Manish Pandey, Rishabh Pant (wk), Shivam Dube, Kedar Jadhav, Ravindra Jadeja, Yuzvendra Chahal, Kuldeep Yadav, Deepak Chahar, Mohammed Shami, Bhuvneshwar Kumar.Read Also:Find out what Kevin Pietersen and Brian Lara have to say about Rishabh Pant’s place in the Indian Cricket Team!Ravi Shastri warns off rumour mongers: Don’t mess around with MS Dhoni’s plans! Advertisementlast_img read more

Bombers host Youth Basketball Camp at Hume Elementary

first_imgPhelan is being joined by members of the Bombers High School Senior Boy’s squad.The camp is open to girls and boys from ages 8-12.Cost is $5 per session, which runs until 6:15 p.m.Shorts and indoor running shoes are a must.For more information contact Phelan at 250-777-3318 or email at [email protected] Bombers are defending Kootenay Zone Champions. The L.V. Rogers Bombers have yet to start the upcoming High School Basketball campaign, but already the squad is turning in a winning performance after announcing the club has secured gym time to host a drop-in basketball camp for ages 8-12 beginning Wednesday (October 21) at Hume Elementary.”We want kids to come have some fun, learn some basketball skills and meet the Bombers,” said LVR head coach Jeremy Phelan.The camp is set for 5 p.m. Wednesday at Hume Elementary Gymnasium, running every week until December 16.last_img read more


first_imgARCADIA, Calif. (April 10, 2016)–The fact that Sunday’s $100,000 Las Cienegas Stakes was moved to the main track due to significant rain the past two days played right into the hands of post time favorite Dreamologist, as the 4-year-old daughter of leading sire Tapit relished the going and posted an impressive 1 ¾ length win under Flavien Prat. Trained by Richard Mandella, Dreamologist pressed Velvet Mesquite into the far turn and took command turning for home en route to a clocking of 1:15.56.“She looked comfortable, looked good today,” said Mandella. “We entered for dirt only. She’s done so well on the dirt, we wanted to take a shot at it. This is a nice way to finish the meet.”Owned by LNJ Foxwoods, Dreamologist was the heavy 3-5 favorite in a field of seven and paid $3.40, $2.60 and $2.20.A close second down the hillside turf in the Arboretum Stakes March 18, Dreamologist posted her first stakes win in the Las Cienegas (originally listed as a Grade III stakes, but currently under review due to the switch in surface) and collected her fourth win from eight overall starts. With the winner’s share of $60,000, she increased her earnings to $203,710.“She runs the same race on the turf as she runs on the dirt I think,” said Prat. “The only difference is that when you run on the lead on the dirt, you get an advantage. On the turf, it’s pretty tough to run and win on the lead. That’s the biggest difference.”A close third at the quarter pole, Brazilian-bred Off the Road kept to her task in game fashion through the drive and prevailed by a nose for second over Fanticola. Ridden by Martin Pedroza, Off the Road was off at 15-1 and paid $7.60 and $4.40.Last after the first half mile, Fanticola rallied well under Joe Talamo and finished third, 1 ½ lengths in front of Velvet Mesquite. Off at 9-2, Fanticola paid $3.00 to show.Fractions on the race were 21.54, 44.25 and 1:08.96.(The main track was listed as “muddy” for Sunday’s first race, but was then upgraded to “fast” for the remainder of the day).last_img read more