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Gold Trusted Contributor
Posts: 2,737
Registered: ‎06-01-2012
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Zombie houses- banks said they were foreclosing but cancelled sale

This is an interesting read.  If a bank schedules a foreclosure sale, then cancels at the last minute, this residents that may have moved out due to the foreclosure sale are still responsible for property taxes, garbage, water, keeping the house up to code even if the bank hasn't notified them of the cancellation of the foreclosure sale.

 

http://www.reuters.com/article/2013/01/10/us-usa-foreclosures-zombies-idUSBRE9090G920130110

Platinum Super Contributor
Posts: 6,955
Registered: ‎04-23-2011
0

Re: Zombie houses- banks said they were foreclosing but cancelled sale

That's why banks are in such a hurry to get the new lending in practice, they won't be liable for anything after that.