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Warren bill targets vacant properties

Council seeks bonds to cover maintenance

May 30, 2013

WARREN — City Council is developing legislation to require owners of vacant properties being foreclosed on to obtain a $10,000 bond....

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Jun-01-13 2:23 PM

Here's a possible solution memyselfni, contact the County land bank and ask for a list of available properties. Typically they can be purchased for less than $7,500 but need partial rehab.

Prices are absolutely negotiable, sounds like you might have a solid payment history & credit score. If so a local Bank or Credit Union might see you as low risk. Also the land bank will give you an entire year to pay and rehab the property if you prefer to avoid a mortgage.

It's a fantastic opportunity for first time home buyers who have rehab skills, willing helpers and a steady income.

The full name is: Trumbull County Land Reutilization Corporation.

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May-31-13 3:37 PM

Ahh yes the effects of a vibrant liberal economy. When will you insects evolve into free thinking humans? Your leadership has created this, you have supported them in all their retarded anti business policy. Now you comment on how to handle, pay for the blight you brought on yourselves. F&*cking classic!

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May-31-13 2:06 PM

This bill does nothing to solve the problem, but does give the city some funding to keep up the properties, so they are covered, but it does nothing to solve the problem. I had a friend that let his house go, he had it for sale for 3 years and since all the houses around him were going for basically nothing, he couldn't get what he owed, not even close. It was on the SE side between Market and 422. The clientele in the neighborhood was not helping.

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May-31-13 12:57 PM

Tell me what a turd you are lol..right wing fuc^$r

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May-31-13 8:42 AM

Maybe the city of warren has some responsibility for creating an economic environment that inhibits responsible home ownership and actually encourages renting by people who are irresponsible!

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May-31-13 8:32 AM

"These rich NeoCon banker Republicans aren't fools."

Who was the former nations banker?

Tax cheat Geithner!

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May-30-13 7:48 PM

Try squatting memyselfni. It looks like no one would do anything to stop you.

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May-30-13 7:04 PM

This disgusts me. I currently am a renter in Warren. I cannot afford a home. I pay a very good monthly fee for rent, one you would never find in any other city. It's cheap. I'm 37 years old and would LOVE to own my own home....I work full time and I would take care of the property. It's absurd that these homes stay empty when people like me would give anything not to be paying a monthly fee to live somewhere and that fee is going in someone elses pocket every month. Nothing is done with the money I pay my landlord. in the years I've lived here he's paved the driveway, that's it. I've lived here for 8 years!

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May-30-13 4:20 PM

Brasco, ask your wife, she can tell you all about me.

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May-30-13 2:18 PM

A lot of banks aren't foreclosing on properties because they don't want to be responsible for the ongoing costs of the property. The property remains in the name of the owner long after the property has been abandoned ... sometimes many years.

When values again rise, the banks will have more incentive to speed up forclosures.

The abandoners of properties will probably never pay for this bond, but banks and lenders will have to pay for this bond when they forclose on the property(get ownership).

Our grandchildren will read all about this in history and civics classes in 2050.

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May-30-13 11:59 AM

Jonathon..what are you twelve..never grew up eh??

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May-30-13 11:56 AM

People should not vacate the property until the month before the sheriff's sale. They would get free rent for 3 years while the bank forecloses.

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May-30-13 11:37 AM

OLDMANDOWNTOWN2 the problem is that the banks don't follow thru with the foreclosure and aren't the deed holders. Just ask the banks. If you do look up foreclosures you will see that the property is still in the name of the resident , not the bank. They do this so they do not have to maintain or take responsibility for the property.

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May-30-13 11:11 AM

Warren should start giving these worthless properties away to current renters in the city. They might actually collect some tax revenue from them. Some of the properties will even be maintained.

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May-30-13 10:26 AM

insider, my thought as well while I was reading this nonsense. Can't get blood from a rock. People are walking away from the home because they don't have any money. What is so hard to understand about that? Good luck with getting money from a bank or slum lord.

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May-30-13 10:18 AM

Sounds like a get rich scheme, for someone in the bond business. It does how ever seem like a good idea, at least it will help clean up the neighborhoods in Warren. Setting something like this would be quite simple. Any time a home or business is sold, it is recorded who the principle lender is. Just create a separate file for all homes sold, with all the needed info. When a foreclosure is filed, just look up who the principle lender was. The principle lender is the owner of the deed to the place, therefore the owner. Should not be that big a deal to set-up and maintain. But again someone's bonding business is going to make allot of money, if passed.

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May-30-13 9:58 AM

So who’s relative will be hired by the city to enforce this rule? Think of this as a jobs creation idea! Only in Warren!

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May-30-13 9:19 AM

So an owner abandons a property and it has no market value. The city wants to slap on a fee on a unsalable property. The owner refuses to pay. So the city confiscates a worthless property and STILL has to maintain it or demolish it? What am I missing here?

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May-30-13 7:50 AM

What is a NeoCon? Is it a northeast Ohio conservative?

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May-30-13 7:09 AM

Eyes, totally agree with you today, WarrenP is much MORE than a mere FOOL, but that's for another day.

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May-30-13 6:47 AM

"These rich NeoCon banker Republicans aren't fools."

They're probably not fools WarrenP, BUT YOU ARE!!

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May-30-13 6:28 AM

Get rid of the government housing.

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May-30-13 6:05 AM

So many vacant worthless properties in Warren - we can only hope this works, but I have my doubts because finding the actual owner of a foreclosure property can be very difficult because many banks simply do not finish their foreclosure process so technically they do not own the property. These rich NeoCon banker Republicans aren't fools.

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