Contact your City Council member to let them know you support the revised proposed Vacant Property Registration Ordinance at the November 17 City Council Meeting. The ordinance requires certain property owners to register their vacant and abandoned properties.
Join OTOC leaders that day to show support. To see the contact info for your City Council member and Mayor and OTOC issue briefings, click on links below:
The revised ordinance does NOT require financial institutions holding mortgages to register unless the institution has re-gained full title to the property through foreclosure or a deed in lieu of foreclosure. This means that some financial institutions will continue to hold “Zombie Mortgages” where they refuse to foreclose because they don’t want the property back.
On Tuesday, OTOC leaders will call on the Nebraska Bankers Association to assure our community that none of their members engage in Zombie Mortgages, as they asserted at the Oct 6 City Council meeting. OTOC leaders are investigating other means to assure that national and international banks are not allowed to delay on foreclosure indefinitely, while the abandoned property deteriorates and is a blight to all neighbors.Read More . . .