A man in Arlington, Texas, recently found out that even though the bank foreclosed on his house two years ago, the city thinks he should be held responsible for maintaining the property. When the man went to renew his license last July, he found out the city had issued a handful of outstanding fines and warrants in his name over things like un-cut grass, an old fence and operating an alarm without a permit.
A study of more than 1,000 foreclosed properties in nine cities found that banks have higher maintenance standards for properties they own in wealthy, predominantly white, neighborhoods than those in low-income ones. The report by t... Read Post
198,853 properties received foreclosures filings in March, down 17 percent from a year ago. And many warn that a tidal wave of foreclosures coming this year. These foreclosed homes often sell at significant discounts to similar home... Read Post
One in every four homes sold in the fourth quarter of 2011 was a foreclosed property. Some of the best deals for buyers in the foreclosure market are real estate owned (REO) properties. These properties are taken over by banks after... Read Post