Tenants Pressure Lenders to Repair Buildings
Should lenders allow buyers to purchase a foreclosed building for less than what the lender can get for the property so the buyer has enough money left over to fix it up? That’s the question posed in an article in the Wall Street Journal, Tenants Turn to Lenders to Repair Buildings. Some housing groups are pressuring lenders to do this because it does no good for a building to change hands if the new owner can’t bring the property up to code. It’s a novel approach to the problem of deteriorating properties.
Categories: Building Codes, Code Enforcement, Foreclosure, property maintenance
