However, the "Google Translate" option may help you to read it in other languages. Where any of the information contained in a mortgagee's initial submission to the registry has materially changed since such submission, such mortgagee shall make an amended submission to the registry not later than thirty days after mortgagee learns, or reasonably should have learned, of the new or changed information. When properties are vacant and show obvious signs of neglect, it can drag down the entire neighborhood's value. Property Maintenance Obligations for Vacant and Abandoned Residential Properties in New York. In … May 21, 2014. Zombie Property Database (NY Real Property Actions & Proceedings Law §1310) Mandatory Settlement Conferences (NY Civil Procedure Law & Rules §3408) Foreclosure Bill of Rights (NY Real Property Actions & Proceedings Law §1303) Foreclosure Notices (NY Real Property Actions & … What is shadow inventory? What You Need to Know About Shadow Inventory. h�b```��J ��1�� NY statewide hotline for zombie homes is established A new statewide hotline will allow residents to report vacant, abandoned homes statewide, Gov. �V@$hU�Դ�ҦJ��~�vS� Zombie Property: The Vacant and Abandoned Property Registry. endstream endobj startxref Additionally, HPD helps enforce the Zombie Property and Foreclosure Prevention Act of 2016 (the “Zombie Law”), state legislation requiring lenders and servicers to inspect, secure, maintain, and report zombie homes to the New York State Department of Financial Services. These unattended homes are also susceptible to vandalism, squatters, and crime. Such information shall, at a minimum, include: (a) the current name, address and contact information of the mortgagee responsible for maintaining the vacant property; (b) whether a foreclosure action has been filed for the property in question, and, if so, the date on which the foreclosure action was commenced; and (c) the last known address and contact information for the mortgagor(s) of record. The New York State Office of the State Comptroller's website is provided in English. A zombie property (sometimes referred to as a zombie mortgage property) is a type of investment property that has been abandoned by its owner after a foreclosure process begins. Eventually, in 2016, the New York State legislature passed the New York State Abandoned Property Neighborhood Relief Act of 2016, better known as the “Zombie Law.” Although the zombie property legislation does not have an official title, it is commonly being referred to as New York’s 2016 Zombie Property and Foreclosure Prevention Legislation (hereinafter referred to as “the Act”). The Zombie Property Program is a grant-funded initiative to document and report abandoned properties within the village limits of Massena. At the same time, the lender (usually a bank) has not yet taken ownership of the property, nor have they sold it – leaving it as an abandoned property. Press Release from New York Attorney General: “A.G. The Act becomes effective December 20, 2016 , Mortgagees are to provide information on those “Vacant and Abandoned Properties” (as defined in RPAPL § 1309) within their portfolio within 21 days … A Better Way to Find Zombie Foreclosures . “Abandoned homes become magnets for crime, drag down property values and drain … ����+@���1if������2�2�1�0lc`���˰�q&�� NEW YORK – Attorney General Eric T. Schneiderman announced grant awards totaling $12.6 million to help 76 cities, towns, and villages across the state address the problem of vacant properties and so-called “zombie homes” – vacant and abandoned homes that are not maintained during a prolonged foreclosure proceeding. The Department of Financial Services supervises many different types of institutions. The law imposes a duty to inspect, secure and maintain vacant and abandoned properties on mortgagees or their servicing agents. View Your Property Assessment Roll Data FY2021 Final Property Assessment Data Effective December 20, 2016, Sections 1308 and 1310 of the New York Real Property Action and Proceedings Law (RPAPL), obligates mortgagees and servicers to assume certain responsibilities in connection with vacant and abandoned residential properties securing mortgage loans in their portfolios. NY Zombie Home Registry. 0 ��v�2,g�d�dobX��Ű�ѐ� �~FN?��r�{�$��E$��gIV���I�*4_஀=� �$!nO� �Vu���Z5���A���K9����*)))�E00H�4.ts�1�8���*�Spa�b��H��a��6��� �y��$bW�8�D��Έ�YB��A��x���.�Zt�e�耩F�YB�3�Vl[��*vE�gх��"���:it��燌J�9N^�Qy��g{�x�IE�yG�2�R� )� h�bbd``b`�u@��H0���3@��*��������R��H4��o�w� J� The bank must make sure the property is reoccupied within 180 days of taking ownership. 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