Combating Zombie Properties With Registries
According to a new report, North Hempstead Town, New York, is considering creating a registry that would require banks and mortgage lenders to register properties that are in financial distress.
“It’s time to rethink how we deal with vacant and abandoned properties,” said a white paper published by the National Mortgage Servicing Association (NMSA). In the paper, the NMSA discussed some “common sense, practical, and affordable remedies,” aimed at reducing the costs of foreclosure practices and community blight.
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