New York Focus identified more than a thousand cases where the use of a controversial interest formula increased a house’s bidding price at auction.
New York Focus identified more than a thousand cases where the use of a controversial interest formula increased a house’s bidding price at auction. · View in browser
A five-bedroom home in Windsor Terrace, Brooklyn, is the subject of a court battle over whether Emigrant Bank illegally inflated a foreclosure auction bidding price. Colin Kinniburgh/New York Focus
New York Focus identified more than a thousand cases where a disputed interest formula increased a home’s bidding price at auction, allowing a bank to obtain it for a pittance.
In response to a callout from New York Focus, workers shared photos and documents about conditions at Industry Residential Center, a youth prison near Rochester. Photos courtesy of an Industry Residential Center employee