The New York City Department of Housing Preservation and Development (HPD) and the New York City Law Department announced a milestone $1 million in penalties against property owners who failed to comply with New York State’s Zombie Property and Foreclosure Prevention Act of 2016.
Zombie homes are vacant, abandoned or distressed homes whose owners are behind on mortgage payments. The state’s zombie laws discourage the threat these homes pose by requiring mortgage holders to inspect, manage and report vacant and abandoned homes or face penalties of up to $500 per day.
