MFI-Miami Blog

Deed Theft Against Black Homeowners In Brooklyn Speeding Up Gentrification And Leaving People Homeless Real estate experts say that deed theft against Black homeowners in Brooklyn has skyrocketed in the past five years. Experts can show data that historically black neighborhoods are now primarily white. Thus, speeding up gentrification in Brooklyn.  The  New York Times  stated Monday that accounts for nearly half of New York City’s 3,000 deed fraud complaints since 2014. Scammers target elderly longtime black residents who bought property in the 1970s as white people fled New York City. Conmen are also deceiving or coercing elderly black homeowners into signing over ownership of their properties for ludicrously low sums. Broadies Byas’ gorgeous Victorian townhouse is a perfect example. First constructed in 1856, her father purchased the home in 1957 for $7,500. The house is currently worth $1.2 million. However, unbeknownst to Byas, she had given it away for ju...

Brooklyn Deed Theft Victims May Get Relief From The New York State Assembly And State Senate Brooklyn deed theft has become a crisis and Albany is finally acting on it. Senator Velmanette Montgomery and Assemblymember Helene Weinstein have introduced a bill  that will help victims of Brooklyn deed theft. The bill would help homeowners get their property back. The legislation has passed both the New York Assembly and the state Senate. The bill is awaiting the governor’s signature. Local officials and housing advocates say deed fraud has turned into a  crisis in Brooklyn’s gentrifying neighborhoods. The legislation provides greater protections for homeowners who are in default or foreclosure. It also strengthens laws regulating shady property consultants. Read more at MFI-Miami