The Result of Expediting Foreclosures

In response to repeated arguments from Wall Street that an accelerated foreclosure process is necessary to improve the economy, many consumer advocates and foreclosure defense attorneys have been asking:

If all of the properties are foreclosed, who is going to buy them?

The answer, of course, is nobody.  Quicker foreclosures just means more homes are vacant sooner, with many of these vacant homes falling into serious disrepair. 

Unfortunately, not everyone agrees, and many banks, lawyers, and judges have worked to push through foreclosures at a breakneck speed.  Want to see the results? 

Read this article, and check out the photograph of the Tampa home littered with trash.

Mark Stopa

Posted in Main | 1 Comment »

One Response to The Result of Expediting Foreclosures

  1. triumphant says:

    If the foreclosures by “servicers” are actually “legitimate,” WHY do municipalities have to “wrestle with banks that have limited authority to maintain the property?”

    WHY don’t all the “authorities” and “affidavits” submitted by “servicers” put the “servicers” squarely in the crosshairs of municipalities seeking compliaince with Codes or reimbursement for work performed to achieve same?

    HOW is it that can the “servicers” receive favorable judgments or place “credit bids” to take away people’s homes and not have enough skin in the game to properly maintain the properties after judgment?

    WHEN will municipal officials facing these problems realize that the inequitable position taken hourly by judges is directly leading to these very problems?

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