Foreclosures Lead To Vacant Houses in Hoffman Village

Posted in Foreclosed House, September 29th, 2008 |

The foreclosure is a judicial process by which the lenders realize unpaid dues by seizing the mortgaged property. This has been going on ever since the history of borrowing and lending began in the history of mankind. But suddenly foreclosures have hit the headlines in America and consequently the rest of the world since the last two years because of an abnormal spurt in the number of foreclosures. The numbers of foreclosures are so great that these houses are not getting sold. Consequently the number of vacant houses is multiplying.

Vacant houses have been causing problems for the municipalities. These attract crime and disease. They also run the risk of fire breaking out. It is not just one or two but hundreds and thousands of vacant foreclosed houses that are causing headaches for the cash strapped municipalities. The local authorities have neither the manpower nor the funds to tackle the growing menace.

However, Hoffman Estates officials say that the village does not have to spend extra large amounts to contain the problem. Across the country municipalities are having to pay more to keep their areas safe and well maintained. Simultaneously the cities as well as the villages are losing on tax revenue when the houses lie vacant but unsold.

Hoffman Estates has been largely spared because the number of foreclosed units is relatively less according to Don Plass who is the director of Code Enforcement of the village. There are 12,000 houses in the village. Of these 30 houses are lying foreclosed and vacant. This number does not include those properties are undergoing the process of foreclosure. Plass said, “We really don’t have very many where we do have problems.”

It is the larger cities like Chicago that are facing urgent problems with ousted foreclosure victims squatting in front of the vacant houses. Hoffman Estate officials claim that crime rates have not increased and the need as yet has not risen to board up foreclosed houses. Recently there was only one incidence of vandalism. One house on Apple Street developed holes in the walls done most probably with a baseball bat. The problem is that of grass growing higher than the stipulated 10”. The banks are usually the owners of the repossessed vacant houses and they are responsible for the maintenance of the units. They can be ticketed for not playing their part. Hoffman village monitors vacant units online for purposes of maintenance.