Many times these homes have multiple liens on them from several lenders plus back taxes owed plus penalties.
If the banks could make money on it they would have taken them, if they didn’t that had good reason not too.
Anyone taking possession of these homes will get all the liens along with it. No one with any brains would take most of these homes for free, much less pay for them.
And eventually the city will decide to take it back and will bulldoze it, or auction it off for back taxes owed.
Thank you for the info regarding liens and all. Very interesting. Depending on where the economy goes, local governments might generally find the properties to be liabilities in the future. Many are downsizing drastically and getting ready.
>>, or auction it off for back taxes owed...
...or Section 8 it...