FILE – In this March 24, 2009 file photo, a sign lies on the ground in front of a foreclosed home in Homestead, Fla. Officials in 49 states have launched a joint investigation into allegations that mortgage companies mishandled documents and broke laws in foreclosing on hundreds of thousands of homeowners. (AP Photo/J Pat Carter, File)
Editors Note: When Banks defraud American cities out of county recording fees and saddle them with the maintenance of foreclosed real estate that the banks have abandoned or neglected- cities lose revenue. The cities are then unable to care for the homeless families that were displaced by the banks and may neglect to provide basic municipal services like public water, sanitation or maintain the infrastructure.
The city of Detroit is a perfect example of how a bankrupt city was unable to properly carry out its assigned responsibilities to its citizens due to financial deficiencies…
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