Report | The Wall Street WRECKING BALL – What Foreclosures Are Costing San Francisco Neighborhoods

 “It has a devastating impact on the district; it destabilizes the community because it uproots families and these banks don’t’ take care of the properties so it leads to blight. It brings overall morale in the neighborhood down. If you think about it, you have families who have been around for generations who are losing their homes.”

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Foreclosure crisis hits city budget hard, groups say

Each foreclosure costs the city of San Francisco an average of $19,229 in increased safety inspections, police and fire calls, trash removal and maintenance, according to a new report from two nonprofits.

All told, the city has probably spent a total of $73.4 million on the homes that have gone under water and been foreclosed by banks, according to the report by Alliance of Californians for Community Empowerment and the California Reinvestment Coalition.

On top of that, they said, the city has lost$42 million in tax revenue as San Francisco homes have lost roughly $7 billion in their value since the real estate bubble burst.

Full report below…

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4closureFraud.org

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The Wall Street WRECKING BALL

 

Comments
7 Responses to “Report | The Wall Street WRECKING BALL – What Foreclosures Are Costing San Francisco Neighborhoods”
  1. Tee says:

    Thanks Marilyn, I know Ventura is a little extreme but…..we need someone who has the NADS to deal with these childish congressional whats best for them attitudes. They are sworn in to uphold the constitutional values set fourth by our forefathers and do whats best for “THE PEOPLE”. Ventura also said, ” The democrats have one arm,the Republicans have the other and they are leading us right off a cliff and most people aren’t even looking anywhere but straight ahead” Its true!! We need a radical change, thats why Obama was voted in because we thought he would bring it. I understand he must be frustrated by the FAT CATS and congress resisting his efforts and its not all his fault ….but we need a brand new gov. who cares about things besides themselves. LOL..in the interview a woman said to Ventura, ” How can you say these things about this country being one of its citizens?” Ventura answered, ” I’m not a citizen because I moved and became a citizen of Mexico”. hahahaha..Iknow, I know but…there is NO BS about that dude. Call me crazy, but, its gonna get worse for the middle class and I think we could see fireworks within this country in our life span……….thank God for people who have the NADS to stand up against the wrong doers like John Obrien of essex county Ma. and schneiderman NY AG and a few others who are sincere……instead of all the BS of making it look like something is being done about the foreclosure crisis…..ILLUSION……yup, just another ILLUSION………….ok…im rattling ……T:)

  2. You can apply the same findings to any city of the US

  3. The Last of the Mohicans says:

    ANY PERSON WHO OWNS A HOME THEIR, THAT STILL THINKS THIS CRISIS IS BECA– USE OF DEADBEAT HOMEOWNERS, DESERVE TO GET WHAT IS COMING, BECA– USE THEY REF– USE TO CONTINUE TO STICK THEIR OWN HEADS IN THE SAND AS IF NOTHING IS GOING ON!

  4. The Last of the Mohicans says:

    Who cares they DESERVE IT!

    They let big BANKS steal TITLE RECORDING FEES so now let them EAT CROW!

    It is the City DA’s own FAULT for not protecting their own constituents!

    Now the City is going to CRY about increased safety inspections, police and fire calls, trash removal and maintenance!

    Hey, you REAP what you SOWE!

    CITY OF SF, DO SOMETHING ABOUT IT!

  5. John says:

    Who is checking to see that the foreclosing company or bank is keeping the house insured against damages from it to passer bys and other houses nearby?

    At least folks living there kept the grass cut!

    • Tee says:

      Don’t banks seem like the rich guy who never buys a round??? When are the insurance companies going to start fighting with the banks? I think the only option left for the people who have troubled sub prime loans is to “stop Paying” . The Banks dont care, they wont work with you and they WILL get your home. Get a lawyer, stop paying the Bank and save your mortgage payments. That puts pressure on insurance companies and leaves u monies when they kick u out. Maybe the Insurance companies will pull out on the banks….and then the Banks will be F-ed ….which is how it should be. Hey, if JESSE VENTURA were president lol……Ill bet he would whip the BS out of this country!!!! 🙂 I WOULD VOTE FOR HIM!!!!!!

      • TEE…..Now that I can agree on….Jesse Ventura…..He has power….he has a voice….he knows the whole set up of these crooks….what crap that is running now for future Washington is the same crap that is in Washington….that is NOT what this country needs…..We need power…a strong voice….someone who will face what has happened to America. ….. NEW BLOOD…not the same junkies we have been dealing with……..I don’t even follow this campaign…..it sucks…..nothing but ones backed by the banks, Wall Street and the NWO…..

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