While a fast track foreclosure bill aimed at eliminating blight awaits a vote in the Ohio State Senate, the U.S. Senate in Ohio has taken action.
Read More »Vacant and Abandoned Properties: An ‘Issue of National Concern’
Building on momentum from meeting with HUD Secretary Julián Castro last week to discuss the issue of vacant and abandoned properties, Five Star President and CEO Ed Delgado moderated an important industry panel Thursday on transforming blighted communities.
Read More »Five Star’s Delgado Asks Castro to Address Vacant and Abandoned Properties Issue
The issue of vacant and abandoned properties has become one of national concern; the Five Star President and CEO recently met with the HUD Secretary to enlist his assistance in finding solutions.
Read More »Delgado Applauds Passage of Ohio Foreclosure Fast Track Bill, Urges Senate to Act
The state of Ohio is taking steps to remedy the vacant and abandoned property crisis, however, and the rest of the country may follow suit. A bill that would reduce foreclosure timelines and therefore shorten the amount of time that residential properties remain vacant in Ohio passed by a unanimous 88-0 vote in the Ohio House of Representatives earlier this week.
Read More »Senators Call Federal Regulators to Action on Zombie Foreclosures
A recent report found that nationwide, there are approximately 20,000 so-called zombie foreclosures, which are residential properties that have been vacated by the owner but the foreclosure process has not yet been completed. With the owners gone, these abandoned properties are typically not maintained by banks, which potentially breeds blight, attracts violent crime, and brings down values of surrounding properties.
Read More »New York Governor Announces 11 Institutions Will Adopt Best Practices to Fight Zombie Foreclosures
If a property is determined to be vacant and abandoned, the bank or mortgage company will change the lock, replace or board up windows, remove safety hazards, and make sure it complies with the New York maintenance code from that point forward.
Read More »Ohio Senate Amends Proposed Foreclosure Expedition Bill
An Ohio House bill that would have expedited the residential foreclosure and transfer process and taken steps toward eliminating blight and vandalism in foreclosed, vacated properties has been amended and was introduced in the Ohio State Senate Finance Committee Tuesday, a source close to one of the bill's sponsors told DS News.
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