Who owns an abandoned house?
During the real estate boom in the early 2000s, eager investors snapped up properties in all kinds of neighborhoods in order to rehabilitate them and put them on the market; however, when the economy took a turn for the worse, many of those property owners were no longer able to sell the homes or even afford upkeep on those properties they'd once hoped to flip. As a result, home foreclosures and rates of home vacancy dramatically increased.
Run-down and abandoned homes can make an entire neighborhood look bad. Trash, overgrown grass and pest problems can spill over into neighboring properties. But abandoned houses can be more than just an eyesore -- they can be safety hazards and hotbeds for criminal activity. But who owns these properties, and what can you do to make them take responsibility for their home?....Read more