Sentences with phrase «maintain zombie properties»

A separate proposal would expand the existing $ 500 fine banks incur from local municipalities or DFS when they fail to maintain zombie properties.

Banks would also be on the hook for maintaining zombie properties and create a reinvestment program.

Not exact matches

In order to combat the blight of bank - owned, zombie and abandoned homes, and to ensure the responsible owner maintains the property, Senators Klein and Bailey proposed new legislation to tackle the issue.

Based on the office's findings of bank - owned, publicly listed zombie properties and abandoned properties, which are vacant homes with an unknown owner, the offices released a shocking report, «Nightmare Neighbors: How Badly Maintained Homes Damage Neighborhoods,» which detailed how each type of property drastically depreciates the value or surrounding homes.

This is a critical tool for local governments, as they can easily locate the owner of neglected zombie property to enforce their duty to maintain.

The officials also released a new investigative report, «Nightmare Neighbors: How Badly Maintained Homes Damage Neighborhoods,» detailing the negative impact bank - owned, zombie and abandoned properties have on neighborhood home values.

After passing the duty to maintain, however, New York saw a spike in so - called zombie properties.

Klein's bill calls for expanding the zombie - properties registry to include bank - owned properties, and penalties of $ 500 per day for failing to maintain a property post-foreclosure.

The «zombie properties» legislation also includes measures to assist homeowners facing mortgage foreclosure, improve the efficiency and integrity of the mandatory settlement conferences, and establishes a pre-foreclosure duty to maintain on mortgagees, create an expedited foreclosure process for vacant and abandoned properties, create an electronic vacant property registry, and establish a Consumer Bill of Rights.

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.

The City of Syracuse will use $ 180,000 of its funding for its Blight Busting Program: to seed a revolving fund to pay for «cut and clean» efforts to maintain vacant and zombie properties.

(AP & WXXI News) The mayors of Rochester, Buffalo and 14 other cities in New York State have written to lawmakers asking them to pass legislation to require mortgage lenders to maintain so - called «zombie properties.»

The state Department of Financial Services now maintains a registry of all zombie owned properties, and can impose fines on banks of $ 500 a day for failure to maintain.