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Monday, September 01, 2008

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Mike said…

Tim, if the owner won’t pay the mortgage, they probably won’t pay for trash pickup. Now, the owner has left, so it’s a bank REO. I would think the bank can afford to maintain “their house.”
Foreclosure is all too common in CA. The downsizing of America.


Steve said…

Actually this is not uncommon – the bank does not want to spend money on upkeep on a house it has already lost money on – so the bank becomes an absentee owner.