Lenders are abandoning defaulted properties

In some especially hard-hit areas, banks and mortgage lenders are walking away completely from foreclosed properties, and not taking re-title to them. This means the homes will be derelict, enough of them will mean entire areas will become wastelands.

2 Comments

  1. Bob,

    Would this mean there is a potential for people to squat these homes and maybe take them back? If these homes are being abandoned, is this a possible opening?

    dave

  2. Squatting doesn’t work here as well as in other countries. It was rcently tried in Florida and the cops eventually forced everyone to leav.

    But if enough people did it….

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