Banklords have become landlords….. .the idea that banks don’t want to really be in the property management business seems like a myth. America’s privately owned banking system is in business to make profit. The banking system acquires wealth when they do a foreclosure. It is time to boot the bankers from public office. Who would disagree?
The start of a much needed dialogue to bring truly affordable (not subsidized) housing to Nassau County and hopefully Amelia Island. Other communities have adopted changes in the code to permit small, secondary housing structures on their properties as a way of providing reasonable cost housing. What would need to be done to support a “tiny house” community?
As to Ben’s comments above, as stated in the article, the last thing that a financial institution wants to do is foreclose on property – residential or commercial. It is generally a money losing situation and the longer the financial institution holds the property the more money they are going to loose. It certainly is true that some FIs do a much better job of managing their foreclosed property than others but they are always going to do a minimum amount of work to maintain the facility until it can be sold and they cut their losses.
Mr. Lott – I read a lot about foreclosure fraud. This indicates that certain financial institutions very much wanted that foreclosure to happen. A larger problem seems to be that when you have a complaint against a bank connected financial institution essentially every agency / office will refer you somewhere else. The problem seems attributable to how the Financial Sector gives vast funding via campaign donations to political candidates – both Democrat and Republican. It is time for American voters to examine who it is that is funding their political leaders. In this golden age of information that is an easy thing to do. Banks used forged documents to foreclose on homes. If you want to increase your profit take the borrowers house. The cost of upkeep is obviously less than the value of the property – or the banks would not pursue foreclosure would they? Bankers are in business to make a profit. I am curious as to whether or not any of the operators referenced in the video below were criminally prosecuted. There has been a massive transfer of wealth from the American public to America’s privately owned banking system.
Banklords have become landlords….. .the idea that banks don’t want to really be in the property management business seems like a myth. America’s privately owned banking system is in business to make profit. The banking system acquires wealth when they do a foreclosure. It is time to boot the bankers from public office. Who would disagree?
http://wamc.org/post/banks-landlords-some-tenants-neglected
The start of a much needed dialogue to bring truly affordable (not subsidized) housing to Nassau County and hopefully Amelia Island. Other communities have adopted changes in the code to permit small, secondary housing structures on their properties as a way of providing reasonable cost housing. What would need to be done to support a “tiny house” community?
As to Ben’s comments above, as stated in the article, the last thing that a financial institution wants to do is foreclose on property – residential or commercial. It is generally a money losing situation and the longer the financial institution holds the property the more money they are going to loose. It certainly is true that some FIs do a much better job of managing their foreclosed property than others but they are always going to do a minimum amount of work to maintain the facility until it can be sold and they cut their losses.
Mr. Lott – I read a lot about foreclosure fraud. This indicates that certain financial institutions very much wanted that foreclosure to happen. A larger problem seems to be that when you have a complaint against a bank connected financial institution essentially every agency / office will refer you somewhere else. The problem seems attributable to how the Financial Sector gives vast funding via campaign donations to political candidates – both Democrat and Republican. It is time for American voters to examine who it is that is funding their political leaders. In this golden age of information that is an easy thing to do. Banks used forged documents to foreclose on homes. If you want to increase your profit take the borrowers house. The cost of upkeep is obviously less than the value of the property – or the banks would not pursue foreclosure would they? Bankers are in business to make a profit. I am curious as to whether or not any of the operators referenced in the video below were criminally prosecuted. There has been a massive transfer of wealth from the American public to America’s privately owned banking system.
https://www.youtube.com/watch?v=RJjmnAlkl6g