Political Rivalry Delays Foreclosure Bill

Posted in Foreclosure, June 6th, 2008 |

State Senator Frank Padavna (R- Bellerose) and City Councilperson James Gennaro (D-Fresh Meadows) have allowed political rivalry to delay foreclosure bills. Meanwhile foreclosures have the last laugh and march ahead. Gennaro is more concerned about unseating 18-term Padavan than anything else. He is stalling a bill that would put on hold foreclosures with shady backgrounds. The Assembly allowed its version of the bill to pass through on 7th May 2008 with a vote of 118/10. Gennaro blamed Padavan for the delay.

The moratorium on foreclosures will permit the court to delay ownership transfer in the case of a mortgage that had been contracted in an unorthodox manner. The delay can be as long as one year. Dismissing Gennaro’s comments as ‘sheer nonsense’ Padavan said that the bill is under consideration by the Governor who has his own suggestions. The Senate banking committee considered the pros and cons of the bill earlier this month. Padavan categorically stated, “We want to end up with something that becomes law, not just a lot of political posturing.” He was hopeful that the bill would be passed within few weeks.

Gennaro blasted out at his rival at a news conference he held with ACORN, the prominent housing advocacy organization. Gennaro’ term in the Council will end in 2009. Queens Village hosted the new conference in the house of 54-year-old Jocelyn Voltaire who had refinanced her house on 208th Street, twice. Her son had died for the country in the Iraq War in 2007. Now she is in financial trouble. She had taken loans to give her son the best education but now all that has gone up in smoke. Washington contacted her to say ‘sorry’ but that is not going to do any good to her. The bank does not want to talk to her. She has two other children aged 10 and 16 to care for. But the roof above their head is shaking.

Padavan, in his turn is accusing Gennaro of fiddling and using a serious issue for political mileage.

It is not just recently – in the past also the duo, Padavan and Gennaro have crossed swords. The recent instance was the naming of a school in Bellerose as Padavan. Another issue was over community notification regarding environmental review of school sites. While the bickering goes on, the interests of the people take the back seat.