Mayor calls on New York State to direct monies from Mortgage Settlement to Municipalities

Today, Mayor Tkazyik requested that a portion of the $26 billion settlement between U.S. Attorney Eric Holder, numerous state attorneys general’s including New York State Attorney General Eric Schneiderman, and numerous leading mortgage lenders be directed to municipalities to address vacant and abandoned buildings that are a result of the mortgage crisis.

Mayor Tkazyik stated “While New York homeowners have been severally affected by the recent foreclosure crisis, another victim of the crisis has been urban cities such as the City of Poughkeepsie.” “Property owners who no longer can afford their properties often choose to walk away and abandoned them and the lenders either choose not to foreclose or are unable to foreclose, this leaves the abandoned property on the backs of taxpayers to maintain and address.”

Through water usage records the City of Poughkeepsie has identified over three hundred potentially abandoned properties of which one hundred have been confirmed to be vacant, abandoned and a public nuisance. “These properties are centers of crime, a public safety hazard, a drain on neighbor’s property values and a general blight,” said Mayor Tkazyik.

Cities like the City of Poughkeepsie are innocent victims of the fraudulent mortgage industry that has created this foreclosure crisis, and we need help. I would call on Governor Cuomo and Attorney General Eric Schneiderman to make immediate resources available to local governments to stabilize and address this very important public safety issue.

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