Brooklyn Borough President pushes for $5 million to combat deed theft
BROOKLYN, N.Y. (PIX11) — Community leaders and City Council members rallied to increase funding and awareness to end predatory lending and deed theft.
Brooklyn Borough President Antonio Reynoso is calling on the City Council to allocate $5 million in next year's budget.
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Since 2014, nearly 3,500 complaints of deed theft have been reported. Almost half the victims, often seniors, come from Black and brown communities in Brooklyn.
The hope is that city funding can help educate homeowners from falling victim to predatory lenders and help those who already have, with the crushing legal expenses.
Advocates want the City Council to also consider lifting the statute of limitations for deed theft that occurred years ago and can't be challenged in court. The efforts targeting deed theft at the city level will bolster efforts currently being made at the state level.
The aim is to shut down predatory deed theft and keep vulnerable New Yorkers in their homes.
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