Bank Shame Campaign Protest
Mayor Krebs supports Assemblyman Mickey Kearns protests against Banks responsible for zombie properties.
Please see the following for information regarding this subject:
This is an enormous issue for working families trying to get ahead. Their frustration was shown on Friday, January 15, 2016 when we were joined on the picket of a bank which is a particularly unresponsive actor in Erie County. The link can be seen here -https://m.youtube.com/watch?
The community’s concerns are as follows:
1) For the middle class homeownership as a percentage of net worth is up to 67% of their entire asset portfolio. It is the largest asset in the middle class family's portfolio.
2) According to Kathleen Engel, The Subprime Virus page 145 note 111, " A single home in foreclosure costs a neighborhood 1.4 percent in home value for the homes within 1/8 of a mile from any given home."
3) Also many middle income families are not able to get home owner's insurance when more than one abandoned or foreclosed home appears in their neighborhood.
4) The eventual costs for demolition and upkeep of abandoned and foreclosed homes are transferred to taxpayers because the towns, villages, cities and counties are by law unable to collect these costs because the banks aren't technically or formally the owner of the abandoned property until the bank completes the foreclosure process (RPAPL 1307).
The major asset for middle income families is put at risk when the families are not allowed to buy homeowners insurance and furthermore the value of their primary asset is also reduced. We are all paying for the banks not engaging in our neighborhoods and being responsible neighbors and members of a community.
I ask for your support and sponsorship for the three bills.
KEARNS, MILLER, GIGLIO, RAIA, MURRAY, STIRPE, MCDONALD, ORTIZ, HAWLEY, GRAF, GOTTFRIED, SALADINO, FAHY, MCDONOUGH, LAWRENCE, HOOPER, ARROYO, CERETTO, MOSLEY, BLANKENBUSH; M-S: Cook, DiPietro, Katz, Lopez, McLaughlin, Thiele, Walter
KEARNS, KATZ, MCDONALD, ORTIZ, MILLER, HAWLEY, MURRAY, GRAF, GOTTFRIED, STECK, SALADINO, FAHY, MCDONOUGH, RAIA, GIGLIO, HOOPER, ARROYO, CERETTO, MOSLEY, BLANKENBUSH, DIPIETRO; M-S: Buchwald, Cook, Lawrence, McLaughlin, Stirpe, Thiele, Walter
KEARNS, ABINANTI, GOTTFRIED, CERETTO, DIPIETRO, MCDONOUGH, SKOUFIS, JAFFEE, TEDISCO; M-S: McLaughlin
Bill Licata, Esq.
MICHAEL P. KEARNS – NYS Assembly 142nd District
1074 Union Road
West Seneca, NY 14224
"Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has." - Margaret Mead