Foreclosed Homes Falling Into Disrepair
HIGHLANDS RANCH, Colo. (CBS4) - Foreclosure rates across the nation are falling. The latest numbers just up show the number of homes foreclosed by lenders was down 4 percent from the month before.
However there are still foreclosed homes checker-boarded throughout neighborhoods and many are falling into disrepair. One CBS4 viewer complained about a home she called an "eye sore" in Highlands Ranch.
The home has been vacant since July 2010 when it went into foreclosure, and since then nothing has been done. There's a Homeowners Association in the neighborhood and it has strict guidelines about upkeep. So when weeds started to swallow the lawn, neighbors got irritated.
"Once the foreclosure sale date happens and the bank takes it back we immediately start our compliance process with the new owners, which is the bank," Peggy Zach with the Highlands Ranch Community Association said.
OneWest Bank based in California owns the home. It first received notification letters from the HOA. The fine of $25 a day is now coming their way. The bank says it does have members of its property preservation team in Colorado now.
