Banks aren´t handling their foreclosed properties very well, according to an American Banker
Mosquitoes have been breeding all year in the still-full swimming pools of foreclosed houses from Florida to California, and the neighbors aren´t happy. Authorities in Destin, Fla., last week ordered
Meanwhile, in Phoenix, Maricopa County officials have gotten used to fining banks for not properly maintaining pools attached to houses they own. When the county gets a complaint, it inspects the property, puts a lien on the house, and issues a court date, both of which must be dealt with before the property can be sold again. Banks have to pay the lien and treat the pool to kill the pests.
And this past summer festering pools raised the specter of the mosquito-born West Nile virus; an
Just one more reason why bankers shouldn´t go into real estate. They apparently make terrible pool boys.