Monday, November 19, 2007

Is this what bush, blair and brown mean by stability!!

Crime scene: foreclosure

Cleveland's mortgage meltdown has sparked a crime wave in the nation's hardest hit area for troubled homeowners. The first thing that happened after owners moved out of foreclosed homes in Slavic Village was that squatters and looters moved in, according to Mark Wiseman, director of the Cuyahoga County Foreclosure Prevention Program. "In the inner city, it takes about 72 hours for a house to be looted after it is vacant," he said. Putting a house back together takes money, more money than the restored home could bring on the market. And stopgap programs, such as razing derelict houses, aren't feasible - Cuyahoga County only has a few million dollars available for demolition work, and Wiseman estimates at least $100 million is needed.

Posted by mark @ 02:59 PM (558 views)
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