“MERs has shown itself not to be as workable as we would like,” particularly in terms of a search function.”
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L.A. Council mulls requiring banks to pay ‘enforcement fee’ for foreclosed homes
Three years after the Los Angeles City Council created a foreclosure registry to track distressed properties, city officials want stricter rules to help clean up neglected bank-owned homes in neighborhoods like Pacoima and South L.A.
On Wednesday, the City Council will consider asking banks to pay an “enforcement fee” when filing a notice of default on a residential property – one of the first steps in the foreclosure process.
The fee would help pay for Los Angeles Building and Safety Department staff to inspect registered properties to make sure they’re being maintained, rather than checking them only on a complaint basis. The fee amount hasn’t been determined yet.
The new fee would come in addition to a registration payment of $155 that banks are already required to pay to register foreclosed properties. That fee was created in a 2010 foreclosure registry ordinance which the council proposed tightening last week.
Under the Foreclosure Registry Program ordinance passed in 2010, banks had the option of registering either with the city’s Foreclosure Registry Program or with Mortgage Electronic Registration Systems, Inc. (MERS), a national registry program.
Rest here…
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It could be my case that contributed to this as I complained about ignoring my “possibly” unlawful foreclosure.
I am hoping to focus on city’s policies and claims on foreclosure prevention and their neighborhood stabilization efforts that are ignoring “possible” unlawful acts by the lenders. I am awaiting decision on appeal but can’t afford a lawyer. Building and Safety has recommended me to city attorney over property repairs under suspicious conditions. Also awaiting direct response from dept heads and third party/citizen board.
I feel I have a strong case from the lender side to the city side but may have to fight on my own under duress due to effects on property, rental income through this process which has me living day to day.
My hope is there can be a positive outcome and a rational approach and policy for people losing their homes and damage to the lives of mom/pop landlords and tenants alike.
If anyone can get me in touch with someone that can help on legal side and potentially on city policy side would be appreciated. This could be a major case on my foreclosure case as well as role of local govt imo. It is not clear if this is a step to counter my charges and defense or a step in making better policy.
Local non-profits and housing groups have for the most part ignored my requests which the city may fund or partner with.
So they’re just now figuring out that a system designed to obfuscate and defraud obfuscates and defrauds … WOW!
Unbeleivable, it took this long for them to figure this out! We have been warning them along that MERS has been cheating local, state, and federal entintities (not to mention the home owners) out of fees since their inception. So where did the money go, someone had to make some in order for mers to get away with MERS end running around the local recording laws (without paying), insurance fraud, tax evasion, only to mention a few. I say follow the money, it must have cost a pretty penny for them to buy off our judiciary. Our local annual “Green and clean” included “cleaning up around foreclosed homes” this year. Are they kidding us? Where are the fee’s the banks are charging for so called inspections going? Let the banks who illegally foreclosed and decimated neighborhoods pay, haven’t they done enough damage? How long is our goverment going to let them get away with this? Why not just put them on the ballot along with the candidates that support MERS?
Amen!