Drop in foreclosures called ‘very scary’

[Joseph A. Ferry]

But I repeat myself.

[klott]

Damn Bush!

[klott]

Every month, Bank America has been threatening foreclosure on me ever since they bought my mortgage, even though i can prove every payment is made on time. They say it is because they have not located all of the paper work yet. I think it is because they are trying to look in worse condition than they really are, so they can get another bailout!

[Bruce A. King]

What Larson posted is true but here are some more reasons.

The banks have learned alot in the last couple of years.

1. Most of the people who walked away from their mortgage had abused the houses and/or the HVAC and roof needed replacing anyway.

2. Vacant houses get vandalized.

3. Vacant houses often leak and grow mold.

4. The gov told them to slow down the evictions and foreclosures.

5. The city or county can make the bank clean up these torn up properties or assess fines. They need the original borrower's name to stay on the paperwork for the houses that are in poor shape.