From: michael perelman
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A database would be very useful. An Ohio judge just ruled that
foreclosures were illegal because the forcloserers could not prove
that
they owned the property.
^^^^
CB: My only concern is that if they use a data base to to help untangle
who owns
foreclosed properties, then they will know and prove who owns the
properties and the Ohio judge's type ruling will be gotten around , and
the foreclosures will go forward. In other words, we don't want them to
untangle who owns the property so the Ohio judge's type of ruling can be
gotten and effective in Michigan too.
^^^^^^^
Foreclosure help on the way
Under fire for the explosion of failed mortgages that has led to a
national foreclosure crisis, lenders promised U.S. mayors in
Detroit on Tuesday that they will pay for credit counseling
hotlines and assemble a database to help untangle who owns
foreclosed properties.
Help on the way for who exactly? How is creating a database of
foreclosed properties going to help the unfortunate ex-homeowner? The
only ones who would benefit are vulture investors looking for cheap
properties and possibly neighbors who don't want a unmaintained lawn
to drive down their own property value. This is a disgrace.
-raghu.
