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High Levels of Foreclosures in Fannie Mae Breed a New Problem



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By : John Evan Miller    99 or more times read
Homeowners in Warren, Michigan have suffered from high numbers of foreclosed properties, including foreclosures in Fannie Mae, in the past three years. Now, property owners are also facing the possibility of higher fees should they fail to eliminate rodents in their premises. The city is reportedly planning to increase fees if owners failed to solve this problem on their own.

According to city officials, the problem of Warren foreclosures have made it difficult to get property owners to pay the fees leveled at eradicating rodents. In most cases, they reported that foreclosed residents have left their dwellings which made it difficult to find them and hold them responsible for the charges.

Meanwhile, banks that serve as lenders to a big number of Michigan foreclosures have also refused to get involved, which often led to neglect and rat infestation in residential properties abandoned by foreclosed owners. This has forced officials to consider a new policy wherein the original $20 fee will be raised to $50 and owners will also be required to shell out 25% of the baiting cost.

The continuous rise in the number of bank foreclosed homes and foreclosures in Fannie Mae have resulted in more empty dwellings, leading to rats making their homes in these abandoned residences. Neighbors of empty houses have reportedly called authorities and complained that rodents are infesting their communities, mainly because of lack of maintenance among foreclosed properties.

In an effort to get property owners to pay the fees, city officials have recommended that liens be filed against property owners who fail to pay up. The proposal, according to housing market observers, will affect most of the properties under foreclosures in the area, particularly those with absent owners. The proposed fee hike is awaiting the results of the legal staff's examination of liabilities with regards to entering properties that are considered private and possible ramifications that baiting can have on house pets.

Officials have defended the proposed increase in fees, asserting that $50 is a small price compared with the amount of taxpayer money being used to care for foreclosed houses, including those that have fallen under bank and foreclosures in Fannie Mae. The city is also reportedly considering increasing fees related to building permits that will be applied throughout the city.
For over 10 years, John Evan Miller has provided exceptional information on the foreclosure market.

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