New York Zombie Foreclosures

Lorman Education Services


Thursday, November 16, 2017
1 p.m. - 2:30 p.m. EST

CM | 1.50

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Lenders and Servicers beware. Know your obligations regarding Zombie Properties.


Due to the public policy concerns regarding 'Zombie Properties,' the New York legislature enacted new statutory requirements on lenders and servicers of defaulted mortgages on vacant and abandoned residential properties. These requirements include but are not limited to the inspection and maintenance of these properties during the delinquency of the loan. This material will fully familiarize you with these obligations which also include new reporting requirements to the New York State Department of Financial Services. It will include practical considerations with respect to the nature of the maintenance requirements and procedures necessary to ensure compliance with these new statutory obligations.

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Samit Patel

Samit Patel • Partner in the New York, New York and Newark, New Jersey offices of Cullen and Dykman LLP • Concentrates practice in banking and commercial litigation and has represented lenders and loan servicers in a number of high profile matters, including appeals involving complex commercial and residential mortgage foreclosure and ... Read More

Marianne McCarthy

Marianne McCarthy • Partner in the Garden City, Long Island office of Cullen and Dykman LLP • Concentrates practice in banking and commercial litigation • Extensive experience in both commercial and residential foreclosures as well as other banking and commercial litigation matters including mortgage lien priority, forfeiture, tax lien foreclosure, mechanic lien foreclosures ... Read More

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Michelle Shepherd,