The City Council committees on aging, consumer and worker protection, and housing will hold a joint oversight hearing Nov. 19 on deed theft, and on two bills that aim to protect homeowners from predatory real estate speculation. The Council’s action was prompted by an investigative series from THE CITY that featured family members who found themselves dispossessed from their own homes after investors forced a sale. The investors had purchased shares of homes for pennies on the dollar from far-flung heirs who had inherited the property. One bill, introduced by Councilmember Crystal Hudson (D-Brooklyn), would require purchasers to disclose the market value of similar properties when making an offer. The other, introduced by Councilmember Kevin Riley (D-The Bronx), would require the city to provide asset protection counseling for homeowners and their heirs.

The post Council Considers Bills Spurred by THE CITY appeared first on THE CITY - NYC News.