Lenders Are Having To Keep their Foreclosed Homes In Shape In California

In California the for sale signs and abandoned homes are a common site. Those homes are also in need of a little bit of cleaning. Dead grass and murky pools can breed fire and disease. The cities are starting to hold the banks responsible for that upkeep.

In July the state senate passed a bill allowing cities to fine owners of neglected foreclosed properties up to $1,000 a day.

Some cities have had a difficult time figuring out who to charge on these properties. In Fresno city officials are working on an ordinance that will make it easier to oversee and authorise those fines.

The city has 2,600 foreclosed homes making lenders the owners. Those banks so eager to evict those unable to keep up with payments are will soon be getting the bill to maintain pools and yards that they own.

In Selma the fines could reach up to $1,000 a day. Those lenders that don’t feel up to doing the work will have to pay the city. Selma is hiring workers to clean the properties and putting liens on homes where lenders aren’t paying up. After a 14 day notice that a property is in disrepair then the city will act.

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