Years after the recession rocked some Minneapolis neighborhoods with foreclosures, the city owns hundreds of vacant lots – and pays thousands of dollars a month to keep them tidy. About 400 of the 500 lots are on the North Side, according to the city's department of Community Planning and Economic Development . Foreclosure News
To continue reading up to 10 premium articles, you must register , or sign up and take advantage of this exclusive offer: In the early 2000's, a Los Angeles-based real estate investment firm began buying up the riverfront land, most containing decades-old homes. Several acres at a time , and millions of dollars at a […]
Years after the worst of the housing crisis, states still dealing with high foreclosure activity are weighing laws to speed the process on vacant or abandoned properties. Maryland Gov. Larry Hogan is expected to sign a bill soon that would fast-track the foreclosure process for abandoned or vacant properties. Foreclosure News
Banks and other mortgage servicers are receiving notices from companies like ProChamps , which have been retained to assist municipalities with enforcement of vacant property ordinances. These enforcement actions could significantly impact the foreclosure process. Foreclosure News
Middle Township Committee's Jan. 18 work session explored the many issues related to a proposed ordinance requiring the registration of vacant homes. A state law, passed in 2014, gives municipalities greater flexibility to regulate vacant or abandoned properties in foreclosure proceedings. Foreclosure News
A proposed ordinance requiring registration of vacant homes and buildings within the city could push property owners to properly maintain or rehabilitate those properties due to risk of financial penalty. The legislation received first reading at the last city council meeting and needs two more readings and a majority vote for passage. Foreclosure News
A $ 500,000 Ohio Housing Finance Agency allocation has recently been received by the newly formed Ottawa County Land Reutilization Corporation . The allocation is to be used to demolish blighted and vacant residential structures that are tax delinquent so the property can be rehabilitated or repurposed. Foreclosure News
Attorney General Eric T. Schneiderman announced grant awards totaling $ 12.6 million to help 76 cities, towns, and villages across the state address the problem of vacant properties and so-called “zombie homes” – vacant and abandoned homes that are not maintained during a prolonged foreclosure proceeding. . The grants were awarded under the Zombie Remediation […]
Attorney General Eric T. Schneiderman announced grant awards totaling $ 12.6 million to help 76 cities, towns, and villages across the state to address problem of zombie homes. Grant initiative made possible by Schneiderman's $ 3.2 billion settlement agreement with Morgan Stanley; adds momentum to “Abandoned Property Neighborhood Relief Act.” Foreclosure News
New York's comptroller reports the state's 15 active land banks have acquired more than 1,000 vacant and abandoned properties in attempts to fight blight and promote economic recovery. The regional banks also try to rehabilitate and sell abandoned residences. Foreclosure News