BX group rallies for banks to stop loaning negligent landlords money
A housing group rallied Wednesday in University Heights for banks to stop loaning money to what they say are negligent landlords.
Housing Here and Now officials claim negligent landlords force tenants to live in hazardous conditions. However, they say the banks that give mortgages to these landlords are also to blame. Advocates say they want the banks to guarantee they will only lend money to responsible landlords.
The New York Community Bank, which gives mortgages to many landlords, says it is proud of its housing record. Bank officials add the bank has been recognized for its service to New York.