|Date:||March 14, 2023, 10:30-11 am|
What happens when profits from a foreclosed property exceed what is owed on that property? In the past, the prior homeowner would get the remaining money, or surplus funds, returned to them. But this year, the City of Buffalo removed this policy and is keeping over $3.5 million in surplus funds from the 2019 auctions. Keisha Williams, Executive Director at the Western New York Law Center, and Kate Lockhart, Vacant and Abandoned Property Program Director at the Law Center, join us to discuss why the City did this, what it means for homeowners, and what they want to happen next to see the return of these funds.
Read Kate and Sarah's letter to the Common Council on this issue.
This link will take you to the page of the document with the letter; due to the size of the document, the link may take several minutes to load.