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Real Estate & Property Law

: The Home Equity Theft Reporter

Lenders Abandoning Foreclosure Actions In Some Markets; Dilapidated Collateral Not Worth Repossessing; Homeowners Left On The Hook For Code Violations

By r morris

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In South Bend, Indiana, The New York Times reports:[C]ity officials and housing advocates here and in cities as varied as Buffalo,(1) Kansas City, Mo., and Jacksonville, Fla., say they are seeing an unsettling development: Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal ? from legal fees to maintenance ?

Full post as published by The Home Equity Theft Reporter on March 31, 2009 (boomark / email).

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