New York HPD Tracks Over 3K ‘Zombie Homes’

first_imgHome / Daily Dose / New York HPD Tracks Over 3K ‘Zombie Homes’ November 29, 2019 2,602 Views Related Articles in Daily Dose, Featured, Foreclosure, News Foreclosure HPD New York Properties zombie homes 2019-11-29 Seth Welborn  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago A special team created by the New York City Department of Housing Preservation and Development (NYC HPD) has identified over 3,000 zombie homes in the Big Apple. These are mostly based in areas that are still recovering from the economic distress caused during the Great Recession.According to Leila Bozorg, Deputy Commissioner of HPD, a major part of this team’s work involves collecting data on such homes and the extent of the challenge of rehabilitating these properties. She told Fox News that new laws allow them to hold financial lenders more accountable once a home falls into foreclosure.NYC has also partnered with organizations like the Center for NYC Neighborhoods to help homeowners who have fallen behind on their mortgage payments to find funds and help prevent the creation of more zombie homes.“We send people out to survey homes to try to document where are zombie homes in New York City and what’s the extent of the challenge,” Bozorg told Fox News.New York neighborhoods such as Central Brooklyn, Southeast Queens, northern Staten Island, and parts of the Bronx, particularly, have a higher number of distressed and abandoned properties compared to the rest of the city, according to HPD data.According to a report by Curbed, the city saw around 18,000 foreclosure filings in 2007, when the foreclosure crisis first hit New York. Today, there are at least 2,000 abandoned and deteriorated homes many of which are in the process of foreclosure.“When so many families are struggling to find an affordable place to live, we can’t afford to allow these vacant, blighted homes that pose threats to our communities,” Matthew Creegan, a spokesperson for HPD, told Curbed. “The city’s zombie homes unit has been working to identify where these properties are and take necessary action to get them back on track.” Demand Propels Home Prices Upward 2 days ago Previous: Gen Z’s Thoughts on Renting vs. Buying Next: FHFA Increases Conforming Home Loan Limits Share Save New York HPD Tracks Over 3K ‘Zombie Homes’ The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Foreclosure HPD New York Properties zombie homes The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Subscribelast_img

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