Haunted by The (Standing) Dead?: Zombie Homes Plaugue NYC

Is your neighborhood haunted by the (standing) dead?:

Brooklyn and Queens are plagued with “zombie” properties — homes abandoned by their owners and banks that fail to complete the foreclosure process.
New York currently has 807 of the deserted homes, which can waste away for years as lenders fail to maintain them.
. . . .

State Attorney General Eric Schneiderman pushed a bill that would force mortgage holders to care for the properties. It failed to pass this legislative session.

'Zombie homes are a drain on families and communities and place undue burden on thinly stretched municipal resources,' said Melissa Grace, an AG spokeswoman. 'We look forward to working with the legislature . . . next session.' (link)



New York Foreclosure Filings Decreasing in 2014

After almost a two-year upward trend foreclosure filings are down in New York.

Things are looking good for the New York state housing market. Foreclosure filings throughout the state were down 31 percent in March, breaking a two-year trend:

"In the city, Queens foreclosure filings fell 25 percent, and in Staten Island filings dropped 26 percent. But Brooklyn saw the most dramatic decline, dropping 35 percent year-over-year, according to RealtyTrac data cited by the New York Post." (link)

Source: http://therealdeal.com/blog/2014/04/27/nyc...