JUST LIKE VEGAS
Los Angeles is getting tough on the owners of foreclosed properties who leave them empty and let them fall into disrepair by increasing fines claims Property Wire.
New rules mean that officials can hand out fines of up to $100,000 against financial institutions that seize homes and allow them to fall into disrepair. They also mean that lenders, who often don’t consider the properties their responsibility until the title is transferred, are now responsible as soon as they issue a default notice.
