Fair Housing Advocates Bristle At Banks’ Proposals For Foreclosed Homes
I have a couple of questions about the foreclosed properties:
Who is paying local property taxes on the foreclosed properties?
Are the taxes based on the original mortgage value or are the rates marked down to “current values”?
If the banks are not willing to mark down the mortgages why should the counties mark down the property taxes?
If the property taxes are not paid, the county could take ownership through a tax lien and turn the property over to a local housing manager that provides housing for homeless families rather than auctioning them off for the amount of taxes owed. The government would end up with an investment in the community’s future while supporting the needs of homeless families.
Read the Article at HuffingtonPost