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Loan Modification

: Mortgage Lender Implode-o-Meter

Rust Belt Cities Demolish Homes as Defaults Blight Neighborhoods

By Implode-Explode Heavy Industries

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"Cities and counties across the Rust Belt are ending up with abandoned properties under their control as owners stop paying taxes. In Cuyahoga County, a record 2,400 tax foreclosures may occur this year, said Chris Warren, Cleveland?s chief of regional development. The governments are choosing to tear down some buildings rather than sell them as residents move to the suburbs and steel, automotive and manufacturing jobs disappear."

Full post as published by Mortgage Lender Implode-o-Meter on November 18, 2010 (boomark / email).

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