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Fair Housing Advocates Bristle At Banks’ Proposals For Foreclosed Homes

December 28, 2011


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

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One Comment leave one →
  1. December 29, 2011 9:52 am

    Hi Zrants,
    I take your point, Before a bank let’s your house go into a foreclosure there are laws that deal with fair housing practices. There was a law passed called the American civil rights act of 1866 and that allows people not to be discriminated with the property they own based on race. It is important that you understand how this law works and how it can affect your home from going into foreclosure. Later the law was amended in 1988 to have a larger scope of the law so it included not only race but also religion and national origin. Also during that year the law included the handicap and also said he could not discriminate based on age or gender. This law was created to help people from being discriminated against.
    All the Best

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