It's a crime to neglect foreclosed homes

Municipalities are cracking down on holders/owners of foreclosed properties.

JMO:
Those of you that read last week's blog post:
Know The Law Before You Buy Detroit Foreclosure Properties,
are now aware that municipalities are becoming more aggressive in creating or enforcing laws that are penalize holders/owners of REO product for not properly maintaining the properties. We are going to begin to see this more often for the following reasons:

• there are health and safety risks associated with poorly maintained properties. With these risks come financial liability (fire, drownings, etc)
  
• because of the Neighborhood Stabilization Program, municipalities are further obligated to stimulate homeownership and need properties to be marketable
• By enforcing penalties, banks are discouraged from foreclosure/eviction proceedings as studies have shown that an occupied home is less costly for the banks.

I believe we will begin to see more of these enforcements taking place in the very near future.