Mayors write to lawmakers regarding ‘zombie properties’ - NEWS10 ABC: Albany, New York News, Weather, Sports

Mayors write to lawmakers regarding ‘zombie properties’

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ALBANY, N.Y.—The Mayors of Buffalo, Rochester, and fourteen other New York Cities have written to lawmakers asking them to pass a legislation.

The mayors have asked the lawmakers to pass legislation to require mortgage lenders to maintain so-called “zombie properties”.

The measure crafted by Attorney General Eric Schneiderman would make banks and other lenders responsible for homes that have been abandoned after the start of a foreclosure.

Zombie homes are properties that have been abandoned after their owners receive a notice of foreclosure.

Schneiderman’s bill would authorize fines for lenders who fail to maintain abandoned homes. He is asking lawmakers to pass the measure before adjourning this month.

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