Two more mortgage companies agree to combat zombie properties

Last week, Gov. Andrew Cuomo announced that two more mortgage companies, First Niagara and Carrington Mortgage, will adopt a set of best practices to help inspect and maintain vacant and abandoned properties in New York State. This means a total of 13 banks and mortgage companies have now agreed to these set of practices, which according to the governor, represent about 70 percent of the New York market. These practices are set to be implemented and adopted by August of this year. For more information, you can view the governor’s press release here.

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