About 15,000 zombie foreclosures — homes in foreclosures that have been vacated by their owners — continue to plague localities around New York state, The New York Times reports, citing RealtyTrac data.

Now, the state’s attorney general is seeking to tackle the problem. Today, he is expected to outline legislation designed to hold banks responsible for maintaining the properties, which can attract homeless people, drug addicts and even prostitutes, according to the Times.

But the Times said such legislation faces some obstacles, not the least of which is disagreement over what constitutes an “abandominium.”

Source: The New York Times

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top