In the multi-front fight against blight in communities from coast to coast, encouraging signs of progress keep getting offset by steps backward. Recent developments in three states, in particular, display the full range of the spectrum in this fight.
On a positive note, a new fast-track foreclosure law in Ohio gives lenders the opportunity to foreclose and market a vacant and abandoned property while it is in somewhat good condition. New York, too, recently created an option for an expedited foreclosure process on bona fide vacant and abandoned properties that homeowners no longer want; unfortunately, the same law places a new burden on banks and servicers. Meanwhile, a disturbing court ruling in Washington state handcuffs those seeking to protect defaulted properties prior to foreclosure.
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