Housing Here and Now
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Housing Here and Now
The coalition, Housing Here and Now, called on the New York Community Bank, which has 150 branches in the metropolitan area, for regular inspection of dilapidated buildings on which they hold mortgages and to force the owners to make repairs or face penalties, including possible foreclosure. The group proposed that the bank's planned acquisition of another bank, Atlantic Bank of New York, be held up until New York Community Bank press its clients to maintain their buildings, which the group said the bank has the power to do under a so-called good repair clause in its mortgage agreements.