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New York doubling down in fight against zombie foreclosures

Photographs by Christopher Anderson One drizzly december day, real-estate broker Keith McLaurin was driving a silver minivan down Arlington. activity in East New York and Cypress Hills over the.

The state of New York had the highest actual number of zombie properties, followed by florida. zombie foreclosure laws and Task Force in New York. In late 2019, New York governor andrew cuomo signed legislation that gives local municipalities more power to fight against zombie properties. The law authorizes local governments to compel mortgage lenders to foreclose in a timely manner or release abandoned properties to allow for resolution on a local level.

Zombie foreclosure is a situation that occurs when a home is left vacant by homeowners who incorrectly believe they have to immediately move out after receiving a foreclosure notice, thinking that.

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Its findings suggest that the state’s aggressive attack on zombie properties is beginning to pay off. New York bucked the national trend, seeing an increase in foreclosure auctions of 9 percent over.

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ALBANY, NY (WRGB) – Governor Cuomo has signed legislation, allowing local municipalities to have more power in the fight against zombie properties.. track" foreclosure proceedings or release the abandoned property to allow for. our state, driving down property values and burdening our taxpayers,".

State Senator David J. Valesky said: "New York has become flooded with zombie foreclosures over the past several years and thanks to Governor Cuomo and my colleagues in the legislature, we are taking a major step forward in putting a stop to these eyesores. Throughout this state, there are neighborhoods that are on the cusp of turning the.

They are zombies because nobody wants them. Posted on February 18, 2015 by grim. From Housingwire: New York doubling down in fight against zombie foreclosures. The State of New York doubling down in its efforts to fight back against the rising tide of zombie properties, which are homes that are vacant or abandoned during the foreclosure process

Baltimore plagued by zombie foreclosures.. New York. Vacant foreclosure properties can drag down property values around them, and the longer they sit vacant, the more they can deteriorate.

America is taking back homes from foreclosure zombies. Realtors and banks are winning the war against zombie foreclosures.. down 27% from 27,508 the previous quarter and down 43% from 35,113.

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