Banks Help Collier County in Getting Rid of Clutters of Foreclosures

December 9th, 2008

Collier County has been suffering from the problem of foreclosures for a long time. It has been able to solve one big problem with the help from banks. This is clearing of the lawns of abandoned homes. The distressed homeowners in the real estate on their way out leave the homes in a miserable condition. However, this county has finally got a solution for this problem. According to some officials a code-enforcement program has already saved a lot of money after repairing the foreclosed properties. As foreclosure investigator, Mario Bono said, “We have had the most unbelievable experience with the banks. It’s been a real good marriage.”

The city of Buffalo a year back started taking banks into the court to get the problems with foreclosed homes fixed. The cities of California this summer season have been given the right to charge fine against the banks of up to $1,000 per day if they did not fix the abandoned properties that were in miserable condition. Frank Cassidy, manager of code enforcement department of Cape Coral, said that several local governments in Florida that also includes Bonita Springs and Collier County are finding out ways by which they can force banks to do the registration of properties facing foreclosure.

Cassidy also said that he has no knowledge on whether the other agencies have their foreclosure specialists or not. However, his department has dedicated itself for the training of a large number of investigators so that they can work wholeheartedly on homes facing foreclosure. The commissioners in Collier County in the month of September asked for the development of ordinances that demands banks for maintaining homes along with paying a registration fee of up to $150. Diane Flagg, head of code enforcement, saw that in many cases banks were interested in paying for the bill. He said, “From the bank’s perspective, we’re helping them maintain their assets,”

Bono said that the program although is something new, but he has full conformity from banks. He set the example of a home on Beechwood Lake Drive where the grasses overgrew and the pool was covered with algae. However, Fifth Third Bank extended their help in getting done with the problem. This work was done within $3,000 by the bank. The bank has also agreed to fix other real estate properties like that in Beechwood Lake Drive. Bono said, “As foreclosures grow, we’ll probably grow our team too,”