A database would be very useful. An Ohio judge just ruled that foreclosures were illegal because the forcloserers could not prove that they owned the property.
raghu wrote:
On Nov 28, 2007 10:25 AM, Charles Brown <[EMAIL PROTECTED] <mailto:[EMAIL PROTECTED]>> wrote: Foreclosure help on the way Under fire for the explosion of failed mortgages that has led to a national foreclosure crisis, lenders promised U.S. mayors in Detroit on Tuesday that they will pay for credit counseling hotlines and assemble a database to help untangle who owns foreclosed properties. Help on the way for who exactly? How is creating a database of foreclosed properties going to help the unfortunate ex-homeowner? The only ones who would benefit are vulture investors looking for cheap properties and possibly neighbors who don't want a unmaintained lawn to drive down their own property value. This is a disgrace. -raghu.
-- Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com
