Letters to the Editor
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Taking a Squat
Actually...with large number of foreclosures squating does have real advantages.
The biggest problem with foreclosures is the depreciation of surrounding properties.
That banks were dimwitted enough to loan money to suckers who never had the means to pay them back is there problem.
Municipalities should seize the properties of banks that refuse to maintain their properties in saleable condition and offer them up to persons willing to maintain them at no or low cost.
I don't worry about people losing their homes, 10 years and the bankruptcy is off their records, and the banks...they'll do o.k. in the long run without a government bail out, and if they don't well that's the joy of capitalism, idiots are removed from the markets.
But cities do need to maintain their properties, and what better way than to just encourage folks to move in, own a home and take care of it, paying the property taxes and maybe a small fee to take over the property.
Perhaps even those person who walked away could make the effort to take care of their homes if they don't have an idiot's mortage to carry with them. No cost to the tax payer, and proper punishment to those too free with other people's money.