‘Stolen’ Brooklyn homes to be returned after judge slams city housing program

In a victory for a handful of beleaguered homeowners, Brooklyn Supreme Court on Thursday vacated foreclosure judgments against six property owners who lost their valuable real estate through the city’s Third Party Transfer Program. 

Justice Mark Partnow reasoned that the city’s “overly broad and improper” use of the housing preservation program resulted in the owners’ losing their property, causing a “grave injustice,” according to the text of the decision.

The scathing decision against the city program may have broad implications across the five boroughs, extending far beyond the six property owners.

State Sen. Montgomery, co-sponsor of the March 15 Borough Hall hearing, told the Eagle, “First and foremost, I am so happy for the owners and shareholders of the six properties that were returned. This court ruling is extremely encouraging and validates the concerns that so many of us have had about the Third Party Transfer (TPT) program.”

She added, “I am preparing a letter to request an audit of the program and will ask my state colleagues to join me. As a follow-up to our March 15 legislative hearing on the homeowner crisis in Brooklyn, my colleagues and I will be issuing a report with policy and legislative recommendations to address TPT, municipal liens, deed and equity theft and predatory foreclosure practices.”

To read the full article, visit https://brooklyneagle.com/articles/2019/03/29/stolen-brooklyn-homes-to-be-returned-after-judge-slams-city-housing-program/