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Banks abandon foreclosed homes


               
2009 Aug 13, 3:21am   2,328 views  2 comments

by P2D2   follow (0)  

http://www.cnn.com/video/#/video/business/2009/08/13/cho.bank.walkaways.cnn

The face-offs between banks are local city officials are brewing. City wants property tax. Banks wants another type of bailout - from foreclosed properties.

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1   HeadSet   @   2009 Aug 13, 11:31am  

I am missing something.

If the bank never took title, can't the original owners simply move back in? After all, they still own the place. Since the bank never finished the forclosure, why can't the defaulters just set up house, pay the taxes but skip payments to the bank?

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