Taking Financiers to Court over Mold

A case in New York over a property in foreclosure will force lenders to maintain properties affected by mold. In 1997, an earlier case ruled a foreclosing bank responsible for property maintenance during a foreclosure. There is apparently quite a problem in New York City, with the abysmal condition of numerous buildings leading to a city task force threatening to go to (foreclosed) building by building in New York.

Ten properties formerly owned by Milbank Real Estate and now being foreclosed by Wells Fargo are in a responsibility gray zone, neither owned by Wells Fargo nor Milbank, and the tenants living therein are dealing with situations like rampant mold, falling ceilings, no heat, and no hot water.

If this is your situation too, and you’re in California, you might want to give us a call and see about getting an assessment from Byebyemold.

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