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Originally posted by Nightfury
I want to highlight these facts, because I think we all need to be aware of this. I know there might be similar stories out there, but here’s one of them.
This is a story about a house, build in 1978. Not big, only 1008 sq.ft, but big enough for a small family. The house is located in a nice neighborhood. A family moves in. Everything’s going great.
Now I bring this to your attention, because the bank just lost $ 39.900 to mold. If they don’t care about the foreclosed houses and are willing to loose all that money to mold, why not forgive the debt and let someone live in that house. We have enough people that struggle financially.
The banks don’t keep these houses up like the owners did. They cut power to these properties and the basements flood.
Why not let the people stay till they get someone else to live there?
The government, mostly via FDIC requirements have enforced capital requirements on banks, taking a hard look at their balance sheets and closing down a tremendous amount of small banks who don't meet those requirements.
This problem could be solved in a day with an executive order
Mold is present.
Originally posted by subject x
Hard to believe someone doesn't snap it up just for the land. It wouldn't cost much to get some machines in there, knock down and haul away the house, then there'd just be perfectly good property to sell.
If I lived in the vicinity, I'd do it myself.
It does seem a shame that the little house was wasted by the bank. I bet they'd have come out better if they just let the poor fella who lost his job stay there until he could start paying again. They'd still get their money, just not as fast. But banks don't think like that.