Cities Throw Money at Foreclosure Mess

Here’s the latest news about what cities across the country are trying to do about this foreclosure mess.

Here’s the latest news about what cities across the country are trying to do about this foreclosure mess.

 

Orlando Spends $6.7 Million to Save Neighborhoods Blighted by Foreclosure

Why not throw money at it?  After all, that’s what the taxpayer does.  He or she helps redistribute the wealth, right?

Do city officals really want to become landlords?  Why not let the real estate investors take the risks- at a reduced price of course?  Or would that just be too easy?

 

Denver Unveils Foreclosure Plan

$6.1 million here. 

I especially like the quote  " The draft looks at things such as area of greatest need, use and distribution of funds, and acquisition and relocation…"

Hmmm.  According to who, I mean  to whom?

 

San Diego Aid Dwarfted by Foreclosure Trouble

This is the biggest pot at $9.4 million going to help distressed homeowners. 

But do I see more trouble brewing here…

"Due to largely to the plan’s limited scope, some bankers, community, government officials and real estate professionals question its effectiveness"…

 

My question is how long will they be able to throw money at foreclosures?   

 

 

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