In New York, mortgage firms take on ‘zombies’

Nearly a dozen mortgage firms and credit unions are adopting a set of best practices to prevent neighborhood blight and the impact to home values from "zombie properties" that are left abandoned by the home owner in New York State.Banks and mortgage companies have agreed to conduct an exterior inspection of homes within 60 days of delinquency to determine if a home is abandoned or not. They will then recheck the property every 30 days after that. 

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