New York has a new law to cut down on so-called zombie properties

06.23.16 | Bob Price

Mortgage lenders will be forced to maintain thousands of abandoned properties across the state under a deal struck by Governor Cuomo and state lawmakers.

This new law requires banks and other mortgage holders to board up or replace broken windows, fix broken pipes, maintain utilities, and address any safety issues at abandoned homes--even before the foreclosure process is complete.

The so called "zombie homes" are a growing problem in New York contributing to neighborhood blight and declining home values.