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dc.contributor.authorWeber, David P.en_US
dc.date.accessioned2015-11-09T19:34:42Z
dc.date.available2015-11-09T19:34:42Z
dc.date.issued2014en_US
dc.identifier.citationDavid P. Weber, Zombie Mortgages, Real Estate, and the Fallout for the Survivors, 45 N.M. L. Rev. 37 (2014).en_US
dc.identifier.issn0028-6214en_US
dc.identifier.issn0028-6214en_US
dc.identifier.urihttp://hdl.handle.net/10504/73513
dc.description.abstractPart I of this Article briefly explains the context and scope of the problem of zombie mortgages -- mortgages that are in default but for which the lender refuses or fails to foreclose. Zombie mortgages saddle the record owner with ongoing tax and maintenance obligations which they may not be able to escape. Zombie properties are problematic for the affected homeowners, but in many cases they are equally problematic for other individuals residing in the same neighborhood, the lenders and servicers, and the relevant municipalities who will have to face issues of negligence, blight and vandalism related to vacant properties. Part I analyzes current municipal approaches to dealing with the problem, primarily through vacant property registration ordinances (VPROs). Part II examines cases from both municipal-driven litigation as well as consumer-driven litigation where zombie debt has been legally extinguished. Part II also examines several bankruptcy decisions that potentially lead to an avenue of relief for the owners of the affected properties. Part III proposes two new unique ordinances that cities could use to combat the problem, highlights owner-based solutions in bankruptcy, and mentions other attempts that have been tried in erasing zombie mortgages. This article concludes that a compromise solution that involves the municipalities, lenders and owners is the best route to ease the nationwide problems associated with zombie mortgages.en_US
dc.titleZombie mortgages, real estate, and the fallout for the survivorsen_US
dc.typeJournal Articleen_US
dc.rights.holderCopyright (c) 2014 David P. Weberen_US
dc.description.volume45en_US
dc.title.workNew Mexico Law Reviewen_US
dc.description.pages37-77en_US
dc.subject.fastMortgagesen_US
dc.subject.fastHousing--Financeen_US
dc.url.fasthttp://id.worldcat.org/fast/01026642en_US
dc.url.fasthttp://id.worldcat.org/fast/00962283en_US
dc.date.year2014en_US
dc.date.monthFallen_US
dc.description.issue1en_US
dc.program.unitSchool of Lawen_US
dc.url.link3http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2375345en_US
dc.url.link1https://heinonline.org/HOL/Page?public=false&handle=hein.journals/nmlr45&page=37&collection=journalsen_US
dc.contributor.cuauthorWeber, David P.en_US
dc.identifier.ssrnhttp://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=1213660en_US


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