homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


Subscriber content preview

June 24, 2016

N.Y. mortgage lenders must maintain abandoned homes

  • Gov. Andrew Cuomo signed the new law because he said the old rules left hundreds of “zombie properties” across the state.
    • By MICHAEL VIRTANEN
    Associated Press

    ALBANY, N.Y. — New York imposed new requirements Thursday on mortgage lenders to maintain abandoned houses before foreclosure.

    The law signed by Gov. Andrew Cuomo threatens banks with civil penalties up to $500 a day for failing to maintain residential properties once they're aware of vacancies.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.