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