Murrieta To Begin Foreclosure Proceedings Against Financial Institutions For Stiffing City On Real Estate Taxes Due On Lender-Owned Homes

In Murrieta, California, The Californian reports:

• The city will initiate foreclosure proceedings on as many as 400 homes, the City Council decided Tuesday. The city's move is not intended to take away people's homes but, rather, is an attempt by the city to help people stay in them, officials said. The majority of the 400 homes are owned by financial institutions that are taking their time in paying property taxes to the county and various assessments that belong to the city. For the estimated 5 percent of the properties owned by individuals, city officials say the move is one that puts the city into the position of being able to work with homeowners and help them catch up on the bills they owe the city without losing their homes.

For more, see MURRIETA: City moves to deal with tax delinquency (Move is first step in allowing payment plans).