Assemblyman Goldfeder Calls on Top 5 Major Banks to Stop Neglecting Foreclosed Properties in Post-Sandy Neighborhoods

September 30, 2013

Assemblyman Phil Goldfeder (D-Rockaway) is urging five of New York’s largest banks and mortgage servicers to maintain foreclosed homes and manage their vacated properties that are currently neighborhood eyesores in the post-Sandy communities still recovering in Southern Queens and Rockaway.

“It’s time the banks start taking responsibility and step-up to the plate to ensure their properties are not creating additional neighborhood blight, especially in our communities that are trying to recover,” said Assemblyman Phil Goldfeder. "Countless homes are at risk of falling into disrepair and creating a severe health risk for our surrounding families.”

Assemblyman Phil Goldfeder has sent a letter to JPMorgan Chase, Wells Fargo, Bank of America, CitiMortgage, and Ocwen Loan Servicing to demand they maintain and not neglect their seized properties--many which have not been cleaned out since the storm last fall. Mold is a serious health concern and it is growing rapidly in the vacant houses. Additionally, the unsightly property is dragging down the value of the neighborhood and creating a gateway for criminal activity, noted Goldfeder.

Earlier this year, HSBC, one of New York’s largest banking and financial institutions, announced that their Rockaway Beach Branch would permanently close. Although Goldfeder urged them to keep their doors open for Rockaway residents recovering for a natural disaster, they refused.

“JPMorgan Chase has gone above and beyond to respond to customer and community concerns and I am confident they will once again do the right thing. HSBC has proven to be a bad community partner and this may be an opportunity to do the right thing,” said Assemblyman Phil Goldfeder. “The last thing a homeowner should have to worry about while they’re rebuilding is the property next door. I am urging all banks with customers in Sandy devastated neighborhoods to make these areas a top priority and provide the proper relief necessary to ensure a full recovery for our neighborhoods.”

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