Hurricane Sandy Buyouts Moving Forward

July 8, 2014 By Elliot S. Schlissel

In the month of May 2014, New York Rising, the agency that is involved with utilizing federal funds to pay for damages caused by Superstorm Sandy, purchased 34 homes. The agency is now in the process of hiring an auction company to sell off some of the homes which were purchased, in addition to several hundred others. The homes sold will either be fixed up or totally rebuilt to make them resistant to future hurricanes.

New York Rising Buying More Damaged Homes

New York Rising is in the process of buying about 500 homes on Long Island. The average price to be paid for these homes is $360,000. There is an additional 500 homeowners who have submitted applications to have their homes purchased. Many of the homes that are being purchased by New York Rising will not be resold. These homes will remain vacant and the land will not be developed. These properties will be used as a buffer against future storms.

Michelle Mittleman, a lawyer who represents a Facebook group of Sandy victims, indicates although New York Rising is paying reasonable value for these homes, they are moving too slowly.

Barbara Brancaccio, a spokesperson for New York Rising, stated they have “moved aggressively to work with homeowners to ensure that we provide them with a fair price, and comply with federal regulations.”

Elliot Schlissel is a foreclosure lawyer. He represents homeowners whose homes are in foreclosure. He litigates foreclosure lawsuits, helps homeowners obtain mortgage modifications, and gets great satisfaction helping families stay in their homes.