Abandoned Foreclosed Homes Causing the West Nile Virus

ForeclosuresRI President and co-founder, Jeremy Shapiro Virginia's Prince William County ordinance does not allow lawns to have more than 12 inches of grass. As lawns of thousands of vacant homes grow, the county's public works department is expected to be inundated with requests to trim grasses. Prince William County is expected to pay up to $2 million to keep yards trim this summer. That money will eventually be recovered through tax liens. The foreclosure crisis is causing a new health problem in the U.S. Abandoned foreclosed homes are becoming breeding grounds for the West Nile Virus. Many of the vacant homes have pools that are not being cared for and the hot weather is attracting mosquitoes. Official say that a pool left untreated can breed thousands of mosquitoes over the summer months but if found in time, treatment takes only minutes. Washington's Fannie Mae is lowering their very high minimum down-payment requirement for borrowers in places where home prices are falling. The company will require a down payment between 3 to 5 percent for all loans. This replaces a policy that required a much higher payment. The move is part of a plan to help resuscitate the mortgage market.

Thoughts? Comments? I'd love to hear your feedback to this posting!

Comments [Login to Post a Comment]