Fannie Mae intends to foreclose on Bronx properties

Group 1 - Fannie Mae has initiated foreclosure proceedings on a $61.5 million loan associated with two properties in New York City, citing default on payments since April 2020 [3][7] - The borrower, Fordham Fulton Realty Corp., has entered into multiple forbearance agreements but still owes payments due from October 2024 onward [3] - Legal issues for Fordham Fulton Realty include a lawsuit filed by The Legal Aid Society on behalf of 62 tenants seeking repairs for over 600 open violations in Fulton Towers [5][6] Group 2 - Tenants have reported severe neglect, including prolonged heat and water outages, and malfunctioning elevators, leading to allegations of falsified certifications by the landlord [6][7] - Fannie Mae's complaint seeks a receiver to manage the properties, foreclosure of the mortgage, and a monetary judgment against the borrower and guarantor for any remaining funds post-foreclosure [7]