De Blasio administration moves to foreclose on hundreds of homes in black and Hispanic neighborhoods – New York Daily News

The current debt threshold for the city to initiate third-party transfer is at least $1,000 in city arrears for at least one year, or $1,000 for at least three years under the city’s Housing Development Fund Corporation program. The city is focused, however, on properties that have a large amount of arrears or have arrears and have been enrolled in one of the agency’s enforcement programs. On average, properties currently being looked at for transfer owed approximately $900,000.