Mayors Meet in DC Regarding Foreclosure in Their Cities...

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Real Estate Agent with Surterre Properties

Local governments are scrambling to deal with the foreclosure lists in their respective cities.  Mayors have been invited to gather in Washington DC to discuss problems associated with foreclosures.  Many localities have inquired about establishing a line of communication with the 50% of people who never contact their lender before their home is foreclosed. 

Foreclosures cause a strain to cities with abandoned homes, abandoned buildings and apartments, uncut lawns, vandalism, unpaid property taxes and a detrimental affect on the neighboring community(s).

Cities estimate that an empty house costs that city an average of $34,000 for inspections, court actions, extra law enforcement and visits from city utilities.  Some cities are investigating potential law suits against lenders.  Baltimore has initiated a suit against Wells Fargo. 

The public will hold each city accountable for neighborhood conditions resulting from foreclosures...so I'm glad for the meetings and hope they are progressive.  Email your comments....

Thank you for making me Your Orange County Real Estate Connection.

Best regards, Michael Caruso

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Michael Caruso, Broker Associate ABR ABRM CLHMS CRB CRS GREEN GRI

Surterre Properties

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Rainer
3,110
Darrin Wixo
Kvamme Real Estate of Fargo Moorhead - Moorhead, MN
Do you have any information to track and see if our own mayors are attending?  I work sister cities on a state border and just wondering if our mayor in Moorhead will be there or how do I inform him of this.  Our city has a part time mayor, Mayor Voxland, who is also a local electrician will be with me making updates to a rental I manage.  If you get this and can get me the program that these other mayors are going on I would like to inform him of it.  Thanks for bringing this to light and letting us know whats up in Washington.  Thanks a lot. wix@gowix.com
February 04, 2008 01:22 AM #1
Rainmaker
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Ricki Eichler
Ricki Eichler Real Estate LLC - Kerrville, TX
Broker,GRI,ABR,TAHS,ePRO - Your Texas Hill Country
Great post Michael.   Good info and a reminder for all of us to stay informed and be a part of our local governments.  Just expecting everyone to do their job and going our own way doesn't always get it done.
February 04, 2008 07:58 AM #2
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Michael A. Caruso

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