this article made me mad

[mintdeer]

This article was done on a news story on a local Seattle station. It made me angry because it made it look like the problem of distressed properties was the fault of the homeowner who got foreclosed on, so of course I had to leave a comment!

Neighbors left with dirty work in foreclosed homes | KING 5 TV | Seattle News, Local News, Breaking News, Weather | Consumer

[mimirayo]

Here's what I wrote

Why is it these stories are always given the twist of a seemingly deadbeat homeowner? They don't own it any more,for whatever reason.I have heard too many stories of homeowners spending months trying to work on modifications, only to get denied...or run around sending and resending documents that can never find their way to the negotiator. There is even a situation where the lender sold the home while the homeowner was making HAMP payments...and yet another who was requested to keep making her payments even though her house was forclosed .THE BANK DIDN"T EVEN KNOW THEY FORECLOSED!This property belongs to the bank, they should take care of it!Here's an idea...Why don't the cities hire people to take care of these properties and send the bill to the banks. They would fine the homeowner if it was in that condition, do it to the banks. This way you can accomplish two things, jobs for some people, and holding the banks responsible for keeping up the property and home values.

[caldwellb02]

I tried to comment but it says "comments are turned off for this article." Weird.

[mimirayo]

oops...not liking the truth?

[mimirayo]

The cooments are back to being open!

[nativelasvegan]

I had to post a comment.

Hey Meg, maybe you could have informed the residents that they can find out who owns the house and contact the bank that took it back to come over and take care of the yard. Or maybe Richard Hagar could use his educational background to talk to homeowners and let them know why the housing market failed. The neighbors are going to pay a price. They will continue to pay until the housing market is stabilized. Remember TARP? That means Troubled Asset Relief Program. You paid once by giving the Fed billions of your taxpayer dollars. That money was given to banks and the banks were to provide American homeowners with modified loan payments to stabilize the economy. Proof that the banks aren't doing that is in your article. You think the one foreclosure is causing an eye sore? Wait a few more months and you'll have more than one yard to mow. But it's okay. Build your "green" wall and bury your head in the sand. No need for you to take a proactive approach to help.

[davephx]

Limited to 1000 words so I posted:

Not everyone only buys a house for its investment. Sometimes people want a home for their family not just dead equity in a house. Keeping families in their homes is a huge benefit for neighbors and communities. Often they were "sold" bad mortgages like pay options where the brokers made the big bucks Or, they could afford full piti mortgages but in the worst recession since the Depression have lost income or other hardships they had no control over.

Desperate Home Owners Petition Congress For Help PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS | Petition2Congress |

Many servicers are finding any excuse they can to foreclose instead of modify because the servicers make more money by foreclosing. It is the investor (often Fannie or Freddie i.e. taxpayers) that lose. The servicers get fees for foreclosing, managing the property owned and reselling it . Many lawyers, consumer groups and recently a Congressional Oversight Committee has pointed out the servicer problem

[nativelasvegan]

Good post Dave, as always. I do enjoy reading what you write.