MANDEL SCHOOL
NEWS AND EVENTS
July 19, 2009
"Bank 'walkaways' from foreclosed homes are a growing, troubling trend"
Cleveland Plain Dealer July 19, 2009
You can see a troubling new trend in the foreclosure crisis in a Cleveland Plain Dealer article by Sandra Livingston titled, "Bank 'walkaways' from foreclosed homes are a growing, troubling trend" here.
"Bank walkaways" are another troubling development in the foreclosure crisis, particularly in cities like Cleveland with weaker housing markets, say housing advocates and government officials. Where banks and Mortgage comanies choose to leave the house in legal limbo, rather than complete the foreclosure. Researchers at the Center on Urban Poverty and Community Development at Case Western Reserve University are studying the issue.
Researcher Michael Schramm comments.