Effects of Warranty of Habitability on Mortgage Foreclosures

Q Since the financial crisis in 2008, it seems as though more and more owners are becoming unable to pay for repairs to their over-mortgaged buildings. These owners may be unable to borrow additional money to finance repairs because they have negative equity in their buildings or because they have collected less rent in the past few years as a result of giving away too many “preferential rents” in order to entice tenants to occupy apartments.

Full Article Access:

Full access to complete articles from New York Apartment Law Insider is for subscribers only.

Not yet ready to subscribe?