State Attorney General Eric Schneiderman is urging the senate and assembly to pass legislation that would require banks to maintain properties if they're
abandoned during foreclosure.
Not exact matches
They have used money from Attorney General Eric Schneiderman's settlements with financial institutions to restore properties that were
abandoned during the financial meltdown and
foreclosure crisis.
NEW YORK, NY — Attorney General Eric T. Schneiderman announced grant awards totaling $ 12.6 million to help 76 cities, towns, and villages across the state address the problem of vacant properties and so - called «zombie homes» — vacant and
abandoned homes that are not maintained
during a prolonged
foreclosure proceeding.
Depending on local law, mortgage lenders may be required to secure
abandoned properties and abate nuisances and hazards that may occur
during the
foreclosure process.
@Ian N. I bought an 8 unit building in
foreclosure from Wells Fargo after the owner
abandoned it after a tree fell on it
during a wind storm.
The
abandoned homes are often left to deteriorate
during a lengthy
foreclosure process, causing lawns to become overgrown, roofs to leak, animals to move inside, and more.
• FHA Loans are mortgages insured by the Federal Housing Commission (FHC), originating
during the staggering amount of
foreclosures and defaults that occurred in the 1930's when Depression Era struggles and
abandoned homes were the norm across the United States.