Mercy James thought she had lost her rental property here to foreclosure. A date for a sheriff’s sale had been set, and notices about the foreclosure process were piling up in her mailbox.WHAT????
So imagine her surprise when the City of South Bend contacted her recently, demanding that she resume maintenance on the property. The sheriff’s sale had been canceled at the last minute, leaving the property title — and a world of trouble — in her name.
“I thought, ‘What kind of game is this?’ ” Ms. James, 41, said while picking at trash at the house, now so worthless the city plans to demolish it — another bill for which she will be liable.
City officials and housing advocates here and in cities as varied as Buffalo, Kansas City, Mo., and Jacksonville, Fla., say they are seeing an unsettling development: Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal — from legal fees to maintenance — exceeds the diminishing value of the real estate.
[ cf Banks Starting to Walk Away on Foreclosures ]
Clearly More Proof that teh CRA caused the Icelandic to become Zionist Bolishiviki Banking Konspirikii Darkies with some Crazy New Hip Hop Disco Dance Fever!!!
Now More Than EVER we must Support the War President and the Heroic Mission Accomplished Dancers, as they Rave Against the RINO's of the Evil Liberal Wall Streeters...
Uh, does meaning still really matter in this clearly post Surrealist Moment?
Oh yes, THEY ARE BAD! WE MUST STOP THEM!!!!
Or the Terrorists Win!!!