http://www.calculatedriskblog.com/2009/07/lenders-walking-away.html So the lenders are now going thru the forclosure process, but they are leaving the title in the name of the guy that walked away from the house. They are doing this to avoid paying real estate taxes, upkeep and the mortgage. They say this will cause the city to have to pay to tear these homes down. So now less property tax income and more costs to demolish these homes. But hey....the economy is in a recovery says Obama.
City will sell delinquent tax certificate to the highest bidder. Check your county court clerk for more info.