A Legislative Report on the Hearing Regarding The Crisis Facing Homeowners in Brooklyn and throughout New York City

Dear Neighbor,

On March 15, 2019, I joined Brooklyn Borough President Eric Adams and Assemblymember Tremaine Wright, Chair of the NYS Black, Puerto Rican, Hispanic & Asian Legislative Caucus to host a Joint Legislative Hearing to Examine the Crisis Facing Homeowners in Brooklyn and throughout New York City.

The hearing was co-sponsored in partnership with State Senator Brad Hoylman, Chairman of the Senate Committee on Judiciary, State Senator Robert Jackson, Chairman of the Senate Committee on Cities, State Senator Kevin Parker, Chairman of the Senate Committee on Energy & Telecommunications, State Senator Brian A. Benjamin, Chairman of the Senate Committee on Revenue and Budget, State Senator Brian Kavanagh, Chairman of the Senate Committee on Housing, Construction & Community Development and Assemblymember Al Taylor, Chairman - Assembly Subcommittee on Regulated Mortgage Lenders.

Over 300 attendees heard testimony from homeowners, legal experts, foreclosure prevention advocates and stakeholders on issues such as the New York City Department of Housing Preservation and Development’s Third Party Transfer (TPT) Program and its impact on Housing Development Fund Corporations (HDFCs), redlining and predatory lending practices, deed theft and equity fraud, the devastating impact of municipal water and sewer liens, and the court system.

At the hearing, testimony was provided by:

• Office of the NYS Attorney General
• New York State Foreclosure Defense Bar
• DuBois Bunche Center for Public Policy at Medgar Evers College
• New Economy Project
• Brooklyn Legal Services
• Center for NYC Neighborhoods
• New York Legal Assistance Group
• Mobilization for Justice
• Brooklyn Queens Land Trust
• Center for Law & Social Justice at Medgar Evers College
• Brooklyn HDFC Coalition
• 111 Linden Street HDFC
• LES HDFC Alliance
• Community Board 17
• Brooklyn Homeowners
• Community Board 3
• Brooklyn Bar Association Volunteer Lawyers Project
• CAMBA Legal Services
• City Bar Justice Center

To learn more about the testimonies submitted, please visit: https://www.nysenate.gov/senators/velmanette-montgomery

This report summarizes the testimonies and recommendations, provides an update on what we have accomplished so far and what we will continue to work on.

Thank you to all those who took the time to testify and submit testimony. I look forward to our continued partnership to protect homeowners throughout our City.

Sincerely,

State Senator Velmanette Montgomery

25th Senate District

To read the full report, download the PDF above. To request a copy, contact my office at 718-643-6140 or 518-455-3451.

To learn more about the March 2019 Hearing, visit https://www.nysenate.gov/newsroom/articles/2019/velmanette-montgomery/joint-legislative-hearing-crisis-facing-homeowners