Thursday, April 23, 2009

Who is Responsible


With foreclosures still on the rise another issue has become clear. Who pays to keep a property clean and maintained before the bank takes the title officially? In Florida it looks as though the taxpayers will be paying the bill according to the Orlando Sentinel. Banking lobbyist are moving forward with a measure for the taxpayers to be responsible monetarily for the services rendered for the foreclosed properties.

This is an interesting debate. You can't charge the home owners because if their home is in foreclosure you can't exactly bill them, the bank doesn't officially own it without the title, and the taxpayers of course don't take ownership physically. So who should pay for the properties in question? I guess we'll have to wait and see how it pans out in Florida, then see if other states follow suit.

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