- See more at: http://blogtimenow.com/blogging/automatically-redirect-blogger-blog-another-blog-website/#sthash.Q6qPkwFC.dpuf More on Foreclosures | Bronx News Networkbronx

Wednesday, July 29, 2009

More on Foreclosures

Freelance reporter Eileen Markey has an informative piece on the Ocelot buildings in foreclosure for City Limits. The combination of large amount of debt and need for major repairs in the properties makes the situation difficult to resolve without Fannie Mae writing down the debt.

The Daily News also covers the story here.

UNHP has mapped out the Ocelot properties, all of which are either in some stage of foreclosure or bankruptcy proceedings.

With regards to the larger foreclosure crisis affecting private homes nationwide, former City Limits editor Alyssa Katz has a new book out, entitled Our Lot: How Real Estate Came to Own Us. The weekly edition of City Limits sits down for a Q&A with her about the book.

Finally, two scam artists who ripped off homeowners in foreclosure in the Bronx and Brooklyn were sentenced to five years in federal prison. Homeowners, remember that any and all foreclosure assistance is free, and anything else is a scam!


  1. Ocelot just followed another rip-off artist, Palazzolo, who had spreader mortgages on these buildings with Dime/Wamu several years ago. He got out while the going was good.

    Ocelot and Palazzolo were pure speculators enabled by the willing lenders in it for the fees. For all of them the buildings were just commodities like the current oil option futures owned by brokerage houses who have no intention of taking actual delivery of the oil for distribution.

  2. This is true ! This is good put them in prison..
    This is what keeps every one in there place.
    The way to stop useless fraud . Every one wants to make a buck on some one pocket book.


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