Posted on: September 20, 2018 06:15 PM

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NYC taking legal action against zombie homes

The mayor's office filed lawsuit as the first against banks for zombie homes littered with squatters after foreclosure. As part of distressed properties under foreclosure, homes are not being maintained and neighbors are complaining. The law, Zombie Home was passed in New York State in 2016 banks must maintain their properties in good standing after original owners bailed out. However, in NYC, Dept of Housing Preservation can issue violations and a court order to maintain the property but banks counter leading to lengthy legal battle despite millions in fines pending. The banks named are Wells Fargo, Citi and etc. Beside the banks, the city is going after contractors assigned to manage properties.