Just a Landlord

The Milwaukee Journal notes that  Lenders are abandoning foreclosured properties

http://www.jsonline.com/watchdog/watchdogreports/50548282.html

“Rodney Lass figured his days as a homeowner were over when he was hit with a foreclosure judgment more than a year ago.
He stopped rehabbing his two-story Bay View home and moved on. [snip]

The foreclosure, however, failed to go through after the California-based lender decided it didn’t want the gutted house. Lass said he found out for certain that he still owned it from the Journal Sentinel.”

Tim’s comments

There is another twist, probably worse for the community than abandonment by the lender. An emerging phenomena is owners of properties in lower income areas are being sued for the balance of the mortgage, not as a foreclosure but as a large claim action. The lenders are seeking only a money judgment against the owner and are not asking the court to give them title to the property. The only option at that point for many owners is bankruptcy. Continue reading »

This will be has been posted shortly at the Courthouse:

PLEASE NOTE

In Small Claims Eviction cases, you may only sign complaints and appear in court on behalf of a property owner if you are one of the following:

· The property owner (if the property is not owned by a corporation/limited liability corporation)

· A full time employee of the property owner
· An attorney

Employees of management companies or other outside service providers may not sign complaints or appear on behalf of property owners.