Tuesday, February 17, 2015

MORTGAGE FORECLOSURE - ZOMBIE PROPERTIES

Attorney General Eric T. Schneiderman announced that, in the next two weeks, he will resubmit to the Legislature an expanded version of a bill he proposed last year to address the growing statewide problem of so-called "zombie properties" - vacant and abandoned homes that are not maintained during a prolonged foreclosure proceeding. The attorney general's program bill, the Abandoned Property Neighborhood Relief Act, aims to reduce the number of vacant and abandoned properties falling into disrepair across the state by informing homeowners of their right to stay in their home until a court orders the homeowner to leave, requiring mortgage lenders and servicers to identify, secure and maintain vacant and abandoned properties much earlier in the foreclosure process, and creating a registry of such properties to assist municipalities with enforcement of laws regarding property maintenance. - See more at: http://www.wnypapers.com/news/article/current/2015/02/16/119628/a.g.-schneiderman-to-submit-expanded-legislation-to-address-growing-problem-of-zombie-properties#sthash.enl1CnaX.dpuf"

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