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.