New York providing grants to boost zombie property law compliance

The grant of $9 million is an extension to the 2016 Zombie Remediation and Prevention Initiative created by the Office of the New York Attorney General, the release stated.

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In the wake of the State’s zombie properties law, the Town Board of the Town of Hempstead recently adopted Local Law No. 46-2016 – modeled after similar laws adopted in several upstate New York communities – that will ensure that banks and other lenders will fulfill their maintenance obligations under the new State law.

The city of Glens Falls is applying for another round of funding to crack down on "zombie properties." Glens Falls seeking state grants to fight ‘zombie’ properties | Local | poststar.com You.

American Mortgage Consultants buys Meridian Asset Services  · American Mortgage Consultants, a due-diligence firm that caters to secondary market participants, has been on a buying spree in the last few years, acquiring five different services.

A New Jersey mortgage lender is the first to be fined under a New York law cracking down on zombie homes. Mount Laurel-based PHH Mortgage Corp. was fined $119,000 for failing to maintain a vacant.

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New Zombie Home Foreclosure Law In New York On June 23, 2016, Governor Andrew Cumo signed a ground breaking bill into law requiring banks to take responsibility for "zombie" properties. The law is an amendment to Section 1307 of the Real Property Actions and Proceedings Law.

Proposed Regulation Issued Under New York State’s "Zombie Properties" Law. [1] "Mortgage" means "a first lien upon residential real property as is commonly given to secure advances on, or the unpaid purchase price of, real property under the laws of this state, together with the credit instrument or instruments, if any,

Law360, New York (August 6, 2014, 4:30 PM EDT. The bill would strengthen buy American requirements for federal highway, public transportation, rail grants, rail loans, Amtrak and the Federal.

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