Deed Theft Against Black Homeowners In Brooklyn Speeding Up Gentrification And Leaving People Homeless
Real estate experts say that deed theft against Black homeowners in Brooklyn has skyrocketed in the past five years. Experts can show data that historically black neighborhoods are now primarily white. Thus, speeding up gentrification in Brooklyn.
The New York Times stated Monday that accounts for nearly half of New York City’s 3,000 deed fraud complaints since 2014. Scammers target elderly longtime black residents who bought property in the 1970s as white people fled New York City. Conmen are also deceiving or coercing elderly black homeowners into signing over ownership of their properties for ludicrously low sums.
Broadies Byas’ gorgeous Victorian townhouse is a perfect example. First constructed in 1856, her father purchased the home in 1957 for $7,500. The house is currently worth $1.2 million. However, unbeknownst to Byas, she had given it away for just $120,000.