In a move that we hope is adopted by municipalities all over the state, banks will be required to maintain foreclosed properties or face fines of $500 per day. We believe that the term “fine” should be replaced with the term “tax.”
Forgive us for indulging in a bit of populism, but if the banks insist upon being so vicious to the very consumers who are bailing them out, then they certainly should be forced to live up to extraordinarily high standards.
By and by, the majority of banks holding foreclosures in middle class neighborhoods are holding those properties because they refuse to work with consumers of their loans.
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