New York Attorney General Eric Schneiderman is battling zombies. This isn’t a reality horror show with political themes, or at least, that isn’t the plan. Schneiderman is proposing legislation to reduce the number of “zombie” homes, or those homes that stand vacant between the time the owner leaves when the property is foreclosed on and the bank seizes the home. The Abandoned Property Neighborhood Relief Act is designed to give banks more responsibility for maintaining homes earlier in the foreclosure process and to allow homeowners who default on their mortgages to stay in their homes longer so they don’t leave the home empty.
Schneiderman told Newsday, “Leaving zombie properties to rot is unfair to municipalities, unfair to neighbors who pay their taxes and maintain their homes.” The problem is growing particularly in Central New York, but has increased in the entire state to the tune of 54% in the past year. Zombie properties decreased nationwide by 6% in 2014.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Other issues the New York Attorney General has been false labeling of herbal supplements that lack the active ingredient advertised, phony debt collection rackets, and banking practices.
