Posts (RSS)Cities Struggle to Maintain Bank Owned Homes Foreclosures
The increasing number of bank owned homes foreclosures in Illinois is taking their toll on some cities that have to shell out money to keep these abandoned and vacant properties from becoming blights to neighborhoods.
In Collinsville, community service officers find it time consuming keeping track of abandoned and vacant properties and their unkept yards. Since last year, vacant properties with foreclosure notices are becoming a common sight around the city.
Community service officer Sheri Verstraete said that many homeowners just abandoned their homes. However, she pointed out that it is still the homeowners? responsibility to maintain their properties despite leaving it due to foreclosures.
So far, Madison County experienced a drop in bank owned homes foreclosures in 2009. But many cities have reported an increase in the number of vacant and unsightly houses once warmer weather starts to set in, causing a drain on taxpayers? money and manpower.
Madison Mayor John Hamm said that some families just walk away from their foreclosed homes, adding that the city could not attempt to clean the vacant properties until a hearing officer or judge says so.
In Granite City, officials have hired an outside firm to spray bank owned homes foreclosures for bugs, cut grass and remove trash.
Meanwhile, officials in Caseyville decided to close off the 500-acre Forest Lake subdivision after only one unit was sold. The subdivision became a haven for theft, dumping and graffiti. According to Caseyville Trustee Kerry Davis, Forest Lake will remain closed and locked until such time that sales in the subdivision pick up.
On the other hand, Mitch Blair, Collinsville assistant community development director, said that municipalities are attempting and trying various strategies to address the problems brought about by the increase in the number of abandoned and vacant houses. He added that municipalities have decided to become proactive in handling foreclosure-related issues.
Some municipalities use files by St. Clair County to keep track of foreclosure properties. The courthouse helps municipalities track down who were the last taxpayers, lenders or mortgage holders. Once they have established the persons or entities responsible for the foreclosure homes, they will contact them to do some work on the said properties within 7 to 10 days. If nothing will be done, the municipalities will file a lien.
The lien will ensure that once bank owned homes foreclosures were sold, the municipalities will be able to recover the funds they spent for maintaining and taking care of the yards of foreclosed properties.