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George Nemeth · Questions re: HUD Demolishing Foreclosed Cleveland Homes
February 6th, 2009
Carole Cohen raises important questions:
1. What is the difference between using the money on say, a Citibank or Argent Mortgage Lenders home that needs to be torn down and a Fannie Mae home that also needs the bulldozer?
2.Who ultimately pays the price if HUD winds up paying for the demolition of a home? Tax payers? If so, why is that a good solution?
3. If it IS our taxpayer money to be used and I realize I don’t know the answer yet, then why is this different than using my money to bail out banks?
4. The article points out Utah ’speculators’ who bought homes from Fannie Mae. Do we know they are not going to spend money to fix them up?
5. What is the most cost effective way to handle this issue, and without using more taxpayer or City money money to do it?
via If HUD Demolishes It’s Foreclosed Cleveland Homes, Does That Mean We Pay For It?.
Last 5 posts by George Nemeth
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February 6th, 2009 at 9:54 am
let the homeless live in these homes with a path to ownership
there was a story to this effect recently
they screen the folks for mental health and if capable they get small assistance to learn how to keep the house and there you go give them to a needy person make them vested in the place and everyone wins and less demolished homes more reclaimed places and people
February 6th, 2009 at 7:04 pm
Carole, please see Norm Roulet’s congent response to the City of Cleveland announced National Stabilization Program. Ask yourself which developer ultimately benefits from this strategy of using taxpayers’ dollars to demolish anything and everything within city limits?
http://realneo.us/content/another-step-taken-toward-breaking-cycle-abandonment-forward-or-backward
As for HUD, the PD touched upon the scams going on there especially related to CMHA. But, did they name some of the names that matter? Bruckman/Hoffman? The cozy property transfers benefiting these folks? We need some real investigative reporters. It shouldn’t take a bunch of bloggers to reveal the truth.
February 7th, 2009 at 11:45 am
lmcshane thanks and I’m headed to realneo now. Bill Callahan also blew my mind with some stats on my blog about this topic. I’m making a list of things I want to email to M Gillispie, the reporter who did the PD piece. I agree, we need more depth.