Banks need to take care of property
In my neighborhood and I am in sure yours too, there are many foreclosed homes that are being neglected by the banks that now own them. Just across the street from me there is a home that is just sitting there deteriorating.
The bank is making no effort to maintain it.
The lawn is dead, the trees are dying and soon when the freezing weather comes, the pipes inside the home will break. The value of these assets are falling thanks to the banks neglect. And of course the value of your home is falling, too, because the shabbiness of these homes is going to lower the value of every home in the neighborhoods.
Even though there are people interested in buying this home and others on my street, the banks are making no effort to sell them. These buyers have contacted the banks to try and get them to sell them the homes but are not getting anywhere.
Why isn’t there a law to force the banks to maintain these properties until they get around to selling them?
These assets are losing value and the banks are doing nothing about it. But then why should they.
We the federal taxpayer will be helping them out whenever they need a few billion dollars to keep them fat and happy.
However, I am encouraged to report that Douglas County commissioners David Brady and Nancy McDermid have told me that they are looking into strengthening county ordinances to force the banks to maintain these abandoned homes.
Slapping some nice fat fines on the banks might get their attention and would possibly help the county’s budget shortfall, too.
One thing all of us could do is withdraw our money from these big banks that are holding these foreclosed homes and transfer our money and business to the smaller locally owned ones.
And when they ask you why you are leaving them, you can tell them. Maybe that would help get their attention also.