With an ‘abandoned property crisis’ across New York, lawmakers work to reduce foreclosure waiting period


Vacant and abandoned properties could be turned over to new owners for repair and redevelopment sooner under proposed state legislation.

A major problem facing cities and counties that want to revitalize neighborhoods where there are a lot of abandoned homes is that the municipalities have to wait until taxes haven't been paid on the properties for two years to foreclose on them. The state Senate and Assembly this year passed legislation to reduce the waiting period to one year.

Gov. Andrew Cuomo…

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