Banks Make Bad Neighbors
May 14, 2012 § Leave a comment
After a devastating foreclosure crisis caused by greed and recklessness on Wall Street, thousands of bank-owned, foreclosed homes litter LA neighborhoods. These homes – often left unsafe and in disrepair – attract crime, drive down local property values and are a blight on LA’s communities.
Wall Street banks crashed our economy and drove millions to foreclosure. Now they’re leaving our communities to clean up the mess.
It’s time for city leaders to enforce LA’s blight ordinance which allows the city to collect $1,000 a day from banks that do not maintain their foreclosed homes. Let’s make the banks pay for the damage they have done to our communities.