Pacoima to crack down on banks not ma...

Pacoima to crack down on banks not maintaining foreclosed homes

There are 11 comments on the LA Daily News story from May 27, 2010, titled Pacoima to crack down on banks not maintaining foreclosed homes. In it, LA Daily News reports that:

Local leaders, residents and housing activists launched a campaign Thursday to crack down on foreclosed homes that have been allowed to deteriorate and blight their communities.

Join the discussion below, or Read more at LA Daily News.


Cathedral City, CA

#1 May 27, 2010
Got it now

Granada Hills, CA

#2 May 27, 2010
And this is comming from R.Alarcon who didn't know his own home, the one he was supposed to be living in, had been taken over by squatters.

Ewa Beach, HI

#3 May 27, 2010
Got it now wrote:
And this is comming from R.Alarcon who didn't know his own home, the one he was supposed to be living in, had been taken over by squatters.
Valley Cynic

North Hollywood, CA

#4 May 28, 2010
How about an ordinance to force banks and other lenders to work out deals with the owners or former owners or any customer in mortgage trouble, to work with those people in such a way that they can reclaim their homes, or not be forced out in the first place? That way the owner would remain in residence to maintain his property, saving neighborhoods and, incidently, banks money.

El Segundo, CA

#5 May 28, 2010
Banks are in a tough place,they want to sell the property but their so underwater their going to loose big money if they do.

Many would have liked to let the people who were in them stay, but those people left so they could stop making payments because the payments on those houses greately exceeded what they could rent a smilar house for.

The houses are worth more than the banks can afford to loose if they sell them now, but if they keep them they can pretend their worth more than they really are, and perpetuate the illusion that their not broke, so they can stay in business.

I't a sick game all the way around, and the ultimate answer just might be bulldozers and big dumpsters.
taco bill

Sylmar, CA

#7 May 28, 2010
Part of "maintaining" your house, the biggest and most important part, is paying the mortgage on time.

Also, It is a good thing that over-priced property is being reset to a realistic value.
old guy

Van Nuys, CA

#9 May 28, 2010
Try to but one of these homes HA the banks are not even trying to sell them ??? Guess they know in the future they will be worth more ????
old guy

Van Nuys, CA

#10 May 28, 2010
Why should have to work with people that get themselves in trouble ? NO One ever put a gun to someones head and said "BUY this house on a 1.5% loan" people should have seen this one coming. And now accountants are telling people IF your house is worth less than you paid for it even if you can still make the payments GET OUT give the keys to the bank....Bushit sure made a mess of everything..
pacoima resident

Santa Ana, CA

#11 May 28, 2010
The people that were buying these houses could not ever afford them. I know someone who is not here legally, that purchased a $200,000 home (at best) for over $500,000.00. He had no reported income but did work. He had divided the home up and rented it to several families, he also built a guest house in the backyard without permits and brought in two beat up trailers to rent out. He was renting and living in the house next door and had a few few families renting rooms and a trailer in that yard as well. After a year and a half he lost the home he bought and stayed in the one he had been renting. I was also looking to buy a house at the time. I was looking in better parts of the S.F.V and people were selling for way too much. They were pointing at Pacoima and justifying their high price because homes in Pacoima were selling for a half million every day. I realized the prices were not realistic even though I was qualifying for a loan I knew I could not afford, so I quit my home search and decided to keep renting. Now these irresponsible home buyers want me and other tax payers to bail them out.
pacoima resident

Santa Ana, CA

#12 May 28, 2010
This problem was caused by Fannie Mae, Freddie Mac, and crooked groups like Acorn and their lawyers pressuring banks to loan to low income people with no down payment and no verified income. This was called "compassion" by the liberals. This wasn't Bush's fault even though he didn't have any problem taking credit for the home sales during his presidency.

United States

#13 May 29, 2010
It's not just foreclsed homes, How about illegal street vendors, Cars for sale on the streets everywhere you drive, trash and furniture dumped in every alley, Front yards with multiple vehicles parked on them with dirt yards, loose dogs and cats everywhere, Business' painted all kinds of ugly colors. Wake up "Alarcon" and look to your neighbors in San Fernando a City with it's act together.

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