«Our jobs have been made harder by the irresponsible practices of major banks which have created the scourge
of zombie properties in cities, increasing the burden on local government operations.
The
scourge of zombie properties, which references properties that have been foreclosed upon and have fallen into disrepair without a bank performing upkeep, has been a Schneiderman target in recent years.
This new, toll - free hotline and online registry will track the
thousands of zombie properties across our state, and will ensure that the Department of Financial Services can take action when necessary.
New initiative has Columbia Law students helping smaller municipalities to rid communities of zombie properties
A group called Take Back the Land was disappointed to hear that; they point out that the vast
majority of zombie properties nationwide are left behind by rental property owners who give up.
«I'm proud that the funding obtained by my office's settlement with Morgan Stanley will now help cities and towns across the state reverse the
proliferation of zombie properties, which invite crime and threaten the value of surrounding homes.
The other bill would require lenders to take responsibility for abandoned, blighted «zombie properties,» and would also create a statewide
registry of the zombie properties to assist municipalities enforce maintenance codes.