Just A Landlord

New rule to help Milwaukee monitor foreclosed properties – JSOnline

Some of the highlights from the Journal article:

Under the new rule, which the Common Council passed Tuesday, the bank or financial entity involved must notify the city as soon as the foreclosure action is started. That way the city can more closely monitor and inspect properties to prevent problems from growing, Dahlberg said.

Once a property becomes abandoned, the owners will be required to post the name of the responsible party outside the property so people know whom they can call, Murphy said.

 

My comments:

Foreclosed, boarded buildings are indeed a drain on the neighborhood.  (more…)

Wells Fargo v. Sandra A. Ford is a NJ case that started as a pro se defense to a foreclosure. It ends with Wells Fargo getting spanked by the NJ court of Appeals in what will be a published decision..  At appeal the defendant was represented by Legal Services of NJ, which is similar to Legal Action of WI.

My great interest in foreclose defense cases is twofold.

First I see some of these cases holding the potential of unraveling the entire real estate market by creating hundreds of thousands of “free” homes across the nation. I fear this will cause a second and more dramatic drop in housing prices as once the mortgages are wiped people can sell for practically nothing and make a profit.

A couple property owners approached me stating they have received notice from the Milwaukee Department of Neighborhood Services (DNS) that they must obtain new occupancy certificates on properties they purchased a couple of years ago.  In both cases the properties had been in foreclosure.

(more…)

I was listening to NPR while clearing some paperwork off my desk.  They had a half  hour segment “How We Survive: Renters, Rights, and Resistance”

Under the guise of protecting tenants from foreclosure related evictions the speakers were  promoting just cause eviction laws – starting with CA but their goal is nationwide.  Let’s face it in most foreclosures the tenants live rent free for months.

More alarming was the second half the program where they discussed tactics used to avoid eviction for non-payment. (more…)

As a rental property owner in Milwaukee the following items should rank high on your list of concerns. (Just a draft) (more…)