Interesting story on Fox news tonite. The city of Chula Vista has passed a new law effective October 2007 that enables the city to fine lenders that own properties if those lenders do not maintain the homes and yards.
I heard about this on the radio last night. It was stated that the city enacted this measure to try to keep comps up for the sake of residents. It was probably designed to satisfy some angry and frightened home debtors, not to keep chula vista beautiful.
I don’t know how you mean “put some pressure on lenders” Duckmoore but it might get them to drop prices a bit to get rid of them instead of rehab them every time some gangbangers throw a party.
In any case I bet they extract no money from lenders because of this and it was just political grandstanding. Maybe some other posters can refute that , maybe an attorney?
I heard about this on the radio last night. It was stated that the city enacted this measure to try to keep comps up for the sake of residents. It was probably designed to satisfy some angry and frightened home debtors, not to keep chula vista beautiful.
I don’t know how you mean “put some pressure on lenders” Duckmoore but it might get them to drop prices a bit to get rid of them instead of rehab them every time some gangbangers throw a party.
In any case I bet they extract no money from lenders because of this and it was just political grandstanding. Maybe some other posters can refute that , maybe an attorney?
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