Updated about 17 years ago on . Most recent reply
Banks refusing to take back foreclosed properties
Heard this on NPR last night and hadn't seen it discussed here yet. Banks are not bidding in the foreclosure sales and that means the foreclosure is not complete and that the owner is still responsible for it legally. Interviews a person who walked away in 2007 and now the city is coming after her since the foreclosure wasn't completed and she's still responsible for the property and city fines. Might be some opportunities for the more adventurous investors out there.
http://www.npr.org/templates/story/story.php?storyId=101386052