Senators want foreclosed homes in disarray cleaned up
Local lawmakers are blaming the mortgage crisis for creating eyesores out of foreclosed homes.
A group of state senators are pushing legislation that would force banks to take responsibility of foreclosed properties. According to the group, many foreclosed properties have fallen into disarray and are ruining residents' quality of life.
"We do not want people in our community to suffer just because they live on a block where other institutions refuse to maintain their properties," says state Sen. Eric Schneiderman (D-Bronx).
The lawmakers are hoping to pass legislation before the current session ends in June.
A report released by the group also says the city has fallen victim to reduced property value and increased crime as a result of the foreclosure crisis.