Schneiderman Targeting “Zombie Homes”
They’re called “zombie homes.” Properties that fall into neglect as the foreclosure process drags on, potentially damaging the homes and bringing down property values for entire neighborhoods. Now, New York Attorney General Eric Schneiderman says his office will set aside $13 million in grants to help local governments deal with the problem of abandoned and vacant properties. The 100 communities with the worst zombie home problems can apply for the funds. The money will support efforts to ensure banks and lenders maintain properties they’re responsible for and programs to help homeowners avoid foreclosure.