Items Tagged with 'zombie homes'

ARTICLES

  • NYDFS hits PHH with six-figure fine for failing to maintain single zombie home

    Investigation found PHH failed to maintain New Lebanon home for over 6 months
    Back in 2016, the state of New York enacted “sweeping” new laws aimed at reforming the state’s foreclosure process and addressing the state’s issues with zombie homes. And Thursday, the New York Department of Financial Services showed that the threat of a fine for improperly maintaining a zombie home is not an empty one.
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  • New York unveils bill of rights for borrowers facing foreclosure

    State takes final steps to implement new foreclosure laws
    The state of New York is taking the next step in its fight against abandoned foreclosures and neighborhood blight by unveiling a consumer bill of rights for borrowers facing foreclosure. The consumer bill of rights reminds consumers of the various rights they have before, during, and after the foreclosure process.
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  • New York allots $20 million to state land banks to fight blight

    Money to come from Goldman Sachs, Morgan Stanley mortgage bond settlements
    The state of New York is set to give an additional $20 million to the state’s land banks as part of a continuing effort to fight neighborhood blight throughout the state, the office of New York Attorney General Eric Schneiderman announced this week. The funding will come from the state’s settlements with Goldman Sachs and Morgan Stanley, both of which agreed to multi-billion dollar mortgage bond settlements earlier this year.
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  • New York announces new requirements for maintenance of zombie homes

    New regulation will hold lenders and mortgage servicers "accountable"
    The state of New York is taking its fight against zombies homes to the next level, as the state announced a series of new regulations for mortgage lenders and servicers that aim to hold the companies “accountable” for the maintenance of abandoned foreclosures.
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  • Florida court upholds city's rights to place liens on zombie homes

    Cities' liens on foreclosed properties aren't extinguished when home is sold
    In a move that should help municipalities within the state of Florida fight against the state’s glut of zombie foreclosures, a state appeals court ruled recently that liens placed on foreclosed homes by the city are not discharged when the home goes through a judicial sale. Here's a closer look at the decision.
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  • New York unveils $13 million program for cities' fight against zombie homes

    New grant program uses Morgan Stanley settlement funds
    The state of New York takes its next steps in its ongoing battle against neighborhood blight caused by abandoned foreclosures by unveiling a new program designed to help cities throughout the state fight back against the rise of zombie homes. And the state is using money from a massive settlement with Morgan Stanley to do it.
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  • Ohio signs fast-track foreclosure law

    Looks to cure zombie foreclosures
    Zombie foreclosures could become less common in Ohio because of a bill passed yesterday that allows lenders to move forward on homes that are clearly abandoned. The bill's success bodes well for other judicial foreclosure states as they fight community blight.
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  • New York adopts "sweeping" new laws to tackle foreclosure problems

    Will fight rise of zombie homes; new rules imposed on lenders, servicers
    While the U.S. Senate could soon consider new rules governing the maintenance of foreclosed homes and the glut of "zombie homes" that blight many communities throughout the country, the state of New York is taking the matter into its own hands. Late last week, New York Gov. Andrew Cuomo signed "sweeping" legislation to reform the state’s foreclosure process and address the state’s issues with zombie homes.
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  • Milwaukee Senate to look at bill on zombie homes

    Milwaukee mayor: 'Would worsen the zombie property problem'
    Despite a clear divide in support, the Milwaukee Senate will soon look at a bill that outlaws the city's right to force financial institutions to quickly sell abandoned and foreclosed homes. But is this the right solution?
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