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Renzo Salazar maintains the yard around a foreclosed home.
Customers headed to local Bank of America branches in southeast San Diego Tuesday might have found themselves obstructed by junk furniture such as the old sofa that local protesters dumped in front of one location to protest the banks’ neglect of foreclosed homes.
Members of the Alliance Of Californians For Community Empowerment, a homeowner advocate group, want Bank of America and other property owning banks to clean up and maintain vacant property. The group is even pushing for a city ordinance that would create a registry of foreclosed properties, and fine banks who did not maintain foreclosed homes.
Are banks responsible for maintaining foreclosed homes? What are your thoughts?
Paul Habibi, professor at UCLA Anderson Graduate School of Management, Principal of Habibi Properties, LLC, which owns over 1,600 apartment units in the Los Angeles area, and managing member of the Arrowhead Residential Funds, which invest in distressed housing in Kansas City, Missouri
David Lagstein, San Diego Director of ACCE, Alliance Of Californians For Community Empowerment