MIDDLETOWN – A new state program aimed at funding upgrades to zombie homes – residences vacated by owners and, often taken back by banks, but left to deteriorate – has been launched in six cities including Middletown and Kingston.
State Homes and Community Renewal Commissioner James Rubin came to Middletown and stood outside one of those houses that the city took over years ago, to announce the funding.
“Financed with $22 million with housing settlement funds, HCR and SONYMA have created the Neighborhood Revitalization Program including a purchase-renovation loan that allows a borrower to qualify for a mortgage to buy an abandoned, foreclosed or vacant home and pay for renovations,” Rubin said.
The program in the Mid-Hudson will be overseen by RUPCO.
Middletown Mayor Joseph DeStefano said they can close on the first house shortly followed by a second one after that. The city has some 20 homes available under the new program, he said.
