Terrifying new legislation designed to fight zombie foreclosures in New York just passed the assembly there. Lenders, beware! Property owners and investors in New York need to pay close attention as well.
The legislation is designed to help municipalities protect themselves from zombie properties by creating a statewide registry of the properties and require banks and mortgage lenders to report them.
If this bill passes, it would require lenders and servicers to maintain properties once they become vacant and abandoned.
Get the full transcript at www.NewForInvestors.com
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