Posted 7 years ago on Dec. 19, 2011, 3:49 p.m. EST by DKAtoday
from Coon Rapids, MN
This content is user submitted and not an official statement
I mean really?
Lets get this straight.
OK. People have walked away from their over priced mortgages because they can't afford them and they can't sell the home because on average the house is only worth 1/2 of what they are ( or were ) trying to pay?
OK. Got that so far.
Then your telling me that the Banks are walking away from these properties because they are over priced and they don't want to try to resell them even at discounted prices. They would prefer writing off a complete loss than try to recoup some money by selling at a currently reduced market value.
So these houses have now been totally abandoned. Right?
Now because all of these houses are standing vacant, they are being torn down because people are looting them for the aluminum siding, the copper plumbing, lighting fixtures, etc..
Am I correct? This is what is currently Happening?
And you say the Sheriffs department is still serving an average of 50 eviction notices/mnth ?
What an absolute waste!!!!!!!!!!!!
I mean am I wrong but aren't there a few homeless people out there? Couldn't some of these properties be used to house the homeless? I mean just because someone is homeless it does not mean they are penniless. For many as stated above they could not afford the absurd mortgage and the banks wouldn't work with them to make it realistic and affordable so that they could continue to make payments and stay in their homes.
So can't the city or state step in and make these homes available to those who could afford to set-up utilities and pay the property taxes? Something should be able to be done to stop senseless waste.