Daily Archives: May 7, 2017

Repeat foreclosures in the city have reached an all-time high

New York homeowners are in default mode — again.

The city leads the nation in repeat foreclosure filings

And the winner in all this is the residential mortgage servicing industry, which collects monthly payments and cashes in on fees for every homeowner’s misfortune.

The number of repeat foreclosure filings in New York City far outstrips that of other major cities like Los Angeles, while New York state is No. 1 for repeat foreclosures, outpacing every other state and the US as a whole.

In a report prepared exclusively for The Post, Attom Data Solutions found that in New York City last year, roughly 4,900 — or more than half of all new foreclosures filed — were repeats, up from just 5 percent in 2008.

Read on.

Customers Complain BofA Is Drilling Safe Deposit Boxes And Losing Valuables

And safe deposit boxes are not insured…

SAN FRANCISCO (KPIX) — You might think a safe deposit box is the safest place for your most valued possessions, but according to a growing number of safe deposit box customers, you’d be wrong.

Three different Bank of America customers say they were blindsided when the bank recently drilled and emptied their safe deposit boxes without their permission or the required notice. They say the bank then lost or damaged tens of thousands of dollars worth of property that was removed from those boxes.

However, most shocking for some, the bank drilled the boxes due to missing account information that the customers say the bank had all along.

Read on.

Centrist Emmanuel Macron pulled out a stunning win over Marine Le Pen

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And you were wrong, Donald! Congratulations to the people in France!

Update, Trump congratulates Macron:

Congratulations to Emmanuel Macron on his big win today as the next President of France. I look very much forward to working with him!

 

Buffett calls Obamacare replacement ‘a huge tax cut for guys like me’

No comment…

Berkshire Hathaway Inc Chairman Warren Buffett on Saturday fumed that healthcare costs are eating away at the U.S. economy like “tapeworm” and said the Republican approach to overhaul Obamacare is a tax cut for the rich.

The U.S. House of Representatives on Thursday narrowly approved a bill to repeal and replace Obamacare, a victory for Republican President Donald Trump who has called the 2010 law a “disaster.”

Speaking at Berkshire’s annual shareholders’ meeting in Omaha, Buffett said his federal income taxes last year would have gone down 17 percent had the new law been in effect.

“So it is a huge tax cut for guys like me,” he said. “And when there’s a tax cut, either the deficit goes up or they get the taxes from somebody else.”

Read on.