Issue link: http://dsnews.uberflip.com/i/1020584
» VISIT US ONLINE @ DSNEWS.COM 95 PENNSYLVANIA Pennsylvania Anti- Blight Bills Make Good Sense Two key bills, HB 653 and 667, amend- ing Title 68 (Real and Personal Property) of the Pennsylvania Consolidated Statutes were recently signed into law by Gov. Tom Wolf. e bills are aimed at combating urban blight and expediting foreclosure processes for vacant and abandoned properties. "ese bills are important to help local communities more swiftly address blight and I commend the bipartisan Blight Task Force for its continued dedication to this important cause," Wolf said after signing these bills. Both bills are important pieces of legisla- tion and make Pennsylvania the third state, after Ohio and Maryland, to implement fast- track foreclosure laws, something the industry has been asking the government to implement for a long time. HB 653 provides for an accelerated foreclosure process for vacant and abandoned property. e current foreclosure process in Pennsylvania can take anywhere from 300 to has worked for many years to see these urban blight bills become law in Pennsylvania," said Gene G. Veno, President of Gene G. Veno & Associates. "I was honored to represent Robert Klein, who advocated for passage of urban blight laws to help communities with the growing problems blight was causing in Pennsylvania and communities nationwide. Klein would have been so pleased to see both Pennsylvania Urban Blight Bills enacted. His passion and advocacy made a difference, not only in Pennsylvania but in state houses all across America." Rick Sharga, EVP, Carrington Mort- gage Holdings, told DS News, "Vacant and abandoned properties—so-called 'zombie foreclosures'—have become an unfortunate byproduct of well-intended regulatory and legislative actions that have extended foreclo- sure proceedings in judicial states to several hundred or even over 1,000 days. is new Pennsylvania law will help lenders and ser- vicers prevent blight or expedite the restoration of deteriorated properties, getting them back in condition to sell or rent, and eliminating the safety hazard that these vacant properties often represent. Accelerating foreclosure proceed- ings on vacant and abandoned properties is a win for all parties involved: neighborhoods, 540 days. e new legislation aims to reduce this timeframe by 240 days by providing "a process to have a property certified as vacant and abandoned, either by a municipal code officer or through judicial certification, before an expedited foreclosure may commence." e legislation also specifies the process a lender must follow when using expedited foreclosure on these properties. In an interview with DS News in Novem- ber 2017, the late Robert Klein, Founder and Chairman of Community Blight Solutions and Safeguard Properties, said a house became a liability once it was abandoned. "Fast-track- ing enables the mortgage servicer to get pos- session of the property before it deteriorates. is directly leads to on-time conveyance and faster rehab and sale," said Klein, who had championed the cause of fighting urban blight in Pennsylvania. HB 667, which was introduced in the House by Sen. Patrick J. Stefano, grants rede- velopment authorities with the same powers currently allotted to land banks through the Pennsylvania Land Bank Act. "is proposal will in no way eliminate the ability of a com- munity to create a land bank or affect existing land banks in any way," the bill states. "e Bicameral Urban Blight Task Force RESULTS THROUGH REAL TIME SOLUTIONS. Strength Through Innovative Leadership. PROVIDING DEFAULT REAL ESTATE SOLUTIONS SINCE 1988 Todd Yovino Broker/Owner Island Advantage Realty, LLC Serving Metro New York & Long Island Todd@iarny.com | 631-820-3400 | www.islandadvantage.com