BusinessWeek Article | Dirty Deeds
An interesting article popped up in the Realtor Magazine Daily Update about how is taking an aggressive approach to holding the lenders accountable for the condition of the homes in their control as reported by Michael Orey of BusinessWeek.Spreading the Pain Michael Orey wrote in this very telling article Dirty Deeds. Those that profited from the sale of these houses at one point are now stuck with the collateral and they don’t like it.
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Read Also: Dirty Deeds and Toxic Title
Dirty Deeds by Cleveland Crains
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In Buffalo there is an estimated 5,000-10,000 abandoned homes. These abandoned homes are a problem, especially when they are not being taken care of. New York State amended the definition of “Owner” in its property maintenance code to include not just the title holders, but others who had “control” over a property in 2004.
Read also: US Epidemic Foreclosures may turn small US Cities into Ghost Towns
Dirty Deeds vs. Housing Courts
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Don’t think the borrower gets away scott free in Western New York. Many times Cooper sentences the borrowers to community service. This is definitely a hot topic here in Western New York.
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