Banks and Republicans are blocking short-sales of homes

A middle-aged couple who bought a home in my neighborhood are in a terrible situation. They paid too much for their new house, which needed a lot of repairs, and they failed to aggressively work to sell their existing home. Therefore, they now have two houses. They continue to live in their original home while their new house (two houses away from where I live) has been vacant for three years and it is falling apart. I’m not talking about chipped paint. There are huge holes in the roof that are causing the house to rot out. Check out the garage roof too: Image by Erich Vieth[/caption] People who know a lot about rehabbing houses tell me that if this house and garage don’t get immediate attention, they will need to be completely torn down.

Continue ReadingBanks and Republicans are blocking short-sales of homes