YouGov panelist writes: Banks need to keep their houses in order

Karen GriffinPanel Member
August 08, 2012, 5:57 PM GMT+0

I believe most Floridians are concerned about the state of Florida real estate. The mortgage bust has had a big impact on our communities. We have too many empty and abandoned homes, the result of foreclosures or residents simply walking away from a home because they don't have a job to support it.

The impact is huge. Neighborhoods look rundown because these homes get no maintenance, the lawns don't get mowed and the trash is piled around the doorways. The banks are not dong their part to keep these properties (which they own) in decent shape and are moving too slowly to get them back on the market.

The market value of neighboring homes goes down as does the tax base. Counties and cities have less money to provide services like repairing the streets, mowing the medians and fixing street lights and signs. Schools suffer because empty houses don't contribute to the school tax. It's like a runaway train going downhill with each small thing contributing to the problem.

I believe the banks which created the problem in the first place should be pushed to complete the foreclosure process on the homes that are currently in limbo, fix up the ones they own, get them on the market and offer them at reasonable prices with decent mortgages. One industry should not be allowed shove an entire state into poverty.

Florida has many retirees and for most their home represents a major portion of their assets. The lack of action on the part of the banks is devaluing our homes and robbing us of our biggest savings.

They need to be called to task and MADE to do something about the problem. If that requires regulation, so be it. They obviously cannot keep their house in order without oversight.