The Mayor and head of DNS discuss the “zombie” housing problem in this Milwaukee Journal article. The article is interesting, the comments even more so. “City officials define [zombie housing] a bit more precisely: when title to a property remains with someone who believes he or she has lost the property as a result of foreclosure. “ […]
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Four years ago I wrote of a scary trend I saw emerging, Zombie Housing. These are homes that lenders begin foreclosures on but never take title. This leads to homes that cannot be sold due to the liens upon them. While these houses sit vacant they are vandalized beyond repair. Yet the owners, who think […]
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Zombie housing
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 […]
This past week, taking advantage of the moderate weather, we began our annual exterior survey of our properties a bit earlier than normal. We walk around the exteriors of all the properties to set a prioritized project list for spring/summer 2015. The neighborhoods we operate in are the near Southside, from just north of […]
The Milwaukee Journal reports that Representative Evan Goyke has introduced a series of bills to address foreclosures. The 5 bills as described by the authors are: Realtor Incentive Bill (LRB-3010) – This bill seeks to create an incentive for realtors to sell properties that have a foreclosure judgment and a sale value of less than […]
The Journal is reporting: Over the next three years, Barrett said raze orders in the city are expected to grow to 1,600 homes, with a cost of $24 million. “We have a very severe problem right now,” Barrett said. No kidding we have a “severe problem ” This a problem that continues to grow rather […]
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 […]