Are banks turning occupied homes into abandoned eyesores?
Updated: April 7, 2008 06:13 PM EDT
BUFFALO, N.Y. (WIVB) - - Are banks turning occupied homes into abandoned eyesores? Call 4 Action's Al Vaughters reports the City of Buffalo is cracking down on the financial institutions.
Not long ago, people were living in this house, keeping it up, cutting the grass, trying to keep it clean. But they fell behind on the mortgage, the bank foreclosed and told them to get out.
But now, years later, bank officials say they don't want the house anymore and are asking a judge to "un-foreclosure" this property. And because the bank never took title to the property, the former homeowner, who the bank threw out years ago, is still the owner, still responsible for repairs and upkeep.
And it can happen, even when homeowners put all their heart and money in home improvements. So the City of Buffalo is suing 37 banks, to force them to take title, when they throw homeowners out on the street or work with the owners and the city to slow down the blight.Story by Al Vaughters (WIVB) http://www.wivb.com/Global/story.asp?S=8130832