Sunday, September 09, 2007

California Cities Ponder Plans To Tackle Foreclosure Neglect

The Modesto Bee reports on the struggle facing city officials with the problem of dealing with neglected, vacant homes that are either in foreclosure, or that have already been foreclosed and are now owned by the mortgage lender.
  • "The Northern San Joaquin Valley is ground zero in the foreclosure crisis: San Joaquin County ranks first in the nation, followed by Merced County in second place and Stanislaus County in fourth. The homes are left vacant by the bank. Their lawns go yellow. Their swimming pools turn dark. And sometimes, vagrants move in. The homes sometimes become not only a blight and drain on home values, but also a danger."
For more, see Forgotten homes: Cities ponder what to do with properties in foreclosure (Leaders considering ordinances to tackle neglect after foreclosure).