Walking away from foreclosed homes banks putting the burden back on the people who couldn’t afford to pay in the first place.
Banks Starting to Walk Away on Foreclosures
City officials and housing advocates here and in cities as varied as Buffalo, Kansas City, Mo., and Jacksonville, Fla., say they are seeing an unsettling development: Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal — from legal fees to maintenance — exceeds the diminishing value of the real estate
Some food for thought.
Inhabitat’s Architecture, Stillwater Dwellings