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Real Estate & Property Law

: The Home Equity Theft Reporter

Fannie Backs Down On Plans To Use Online Auction To Dump $29M Mortgage Portfolio Secured By Rundown Bronx Bldgs; Will Search For Responsible Landlord

By r morris

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In The Bronx, New York, Crain's New York Business reports:In the face of pressure from Sen. Charles Schumer, city housing officials and tenant advocates, Fannie Mae decided to cancel an online auction of 19 Bronx apartment buildings that had fallen into foreclosure. Ocelot Capital had bought the buildings in 2007 for a hefty $36 million, and officials worried that the auction would attract

Full post as published by The Home Equity Theft Reporter on August 10, 2009 (boomark / email).

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