White Plains, NY
Business
Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions
Gov. Andrew Cuomo announced that the state's Community Restoration Fund has purchased 172 mortgages in an effort to bring owners in targeted communities out of foreclosure and keep the homes from abandonment. According to this article in Daily Voice, foreclosures are at an 11-year high in New York state, while nationwide they are at an 11-year low. The Community Restoration Fund has helped strengthen the financial position of homeowners, bringing stability back to the housing market in neighborhoods across the state, and preventing so-called "zombie properties," Cuomo said. Thi…
New City, NY
Schools
Hudson Valley School Districts Among 26 Flagged As 'Fiscally Stressed'
Twenty-six school districts, including two in the Hudson Valley, have been designated as fiscally stressed under New York State Comptroller Thomas P. DiNapoli's Fiscal Stress Monitoring System. Rhinebeck Central School District in Dutchess County was flagged as one of seven New York districts that are experiencing "moderate fiscal stress." Port Chester-Rye Union Free District, which approved a nearly $80 million school construction bond issue last spring and has another one on the ballot next month for major Middle School renovations, was labeled "susceptible to fiscal stre…
