The house in Buffalo's Old First Ward where a "bank shaming" campaign began last summer will soon be back on the market. A state lawmaker and housing activists returned to 20 Sidway Street to announce that the bank involved has completed foreclosure proceedings.
State Assemblyman Michael Kearns announced Thursday that Bank of America has completed the foreclosure of the house at 20 Sidway Street.
Back on August 21 of last year, as neighbors went about their business and a pair of children sold drinks from their makeshift stand on the street corner, Kearns and several community leaders planted a "Shame" sign on the front lawn of 20 Sidway, calling out Bank of America for what they said was an unnecessary, prolonged foreclosure proceeding.
"This was a case that was lingering in foreclosure since 2010," said Kate Lockhart of the Western New York Law Center. "We know that in 2013 that Bank of America got a judgment of foreclosure on this property and then they canceled it and started a new one in 2014. There was no action on this foreclosure from October 2014 until exactly one week from the day the shame campaign sign was placed in this front yard."
That sign was replaced Thursday by one that thanks Bank of America for "being a good neighbor." Kearns says banks can be praised just as much as they can be shamed but there is a need to continue the pressure on financial institutions to get similar results elsewhere. Kearns said more than 2,000 properties remain in stalled foreclosure proceedings throughout Erie County.
"We have investors that want to purchase these properties," Kearns said. "I spoke to over 150 investors just last week. They're ready to go. They have monies.
"We have Habitat for Humanity, that have over 100 families waiting for a home. This would be a perfect house for someone waiting for a home."
The house at 20 Sidway needs extensive rehabilitation. But one of the activists joining Kearns Thursday suggested the house can be restored and rejoin the rest of a living neighborhood if turned over to the right hands.
Laura Kelly, director of the Old First Ward Community Association, noted the close proximity of the Solar City project, where thousands of jobs are expected to be created.
"Houses are in demand down here," Kelly said. "This house needs a great deal of work to bring it back to working order. But there's a lot of demand for houses down here. For a qualifying home buyer, the City of Buffalo has a program that can help finance the rehab of a house that is purchased in foreclosure."
