Free Republic

Banker Hypprocrisy And Zombie Homes Douglas FrenchApril 30, 2013 Walking away is not just for homeowners anymore. Now banks have joined in and are walking away, leaving thousands of homes vacant because they don’t want to be responsible for maintaining them. While housing bulls urge investors to buy up houses, banks that could control property ownership merely by foreclosing and paying the back taxes, homeowner’s dues, and other expenses are saying no thanks. The math just doesn’t work. The bulls may want to rethink their strategy. “Bank ‘walkaways’ used to be extremely rare, but they have ballooned in the past...