The real estate market is defiantly on a downfall. The real question is what you do when the bank says that your house is in such horrible condition that they have kicked you out but not foreclosed. As seen on CNN quite often there is a rise on properties that the bank is just walking away from. So what do you do? Well you are on the hook. One couple I saw was foreclosed on and the bank walked away from it and they now have to pay thousands of dollars in city by-law fines and face up to 45 days in jail. All because the bank foreclosed and they walked away. The homeowners are not allowed to live there but they are on the hook for everything. There is a rising number of problem properties and a rising number of homeowners on the hook facing serious fines and jail time. How can you stop this from happening to you? Make sure that when they take your house in foreclosure that they are not just walking away and if they are act as quickly as possible.
