Foreclosure Homes In Orange County Need A Million Dollars

December 8th, 2008 | Tags: Foreclosure Homes

Orange County is home to a lot of foreclosure homes. The foreclosure homes in Orange County need a million dollars in the following year. The elected leaders have decided upon this amount for the care of the foreclosed home – to mow the grass and clear away the umpteen abandoned foreclosed houses.

It is predicted that these county leaders are going to come up with some new laws. These laws will be beneficial to the homes which have been victim to the foreclosure crisis – mosquito workers will be able to enter the abandoned property and clear all the dirty and stagnant pools. Besides, there will be another rule that will ensure that lenders register the property that is going into foreclosure. These two laws are expected to come into force from January. These laws are extremely helpful because they will make sure that the foreclosed homes are not left unattended for months and years at a stretch while the owners are busy with court proceedings.

In Orange County, the numbers of foreclosure listings have increased to about 18,000 homes. This figure is up by 5000 from the year 2006 when officials noticed the first sparks of foreclosure. These foreclosed homes are vulnerable to vandalism and theft.

The Orange County officials are currently in the process of deciding if they can fine lenders that permit abandoned homes and backyards to go into seed during the abandonment period. Other local authorities have also followed this action because the taxpayers are the ones who have to pay for the maintenance of the foreclosed homes.

The nation’s code-enforcement budget was set at a high amount of $5 million for the year ending the following September 30th. The extra $1 million in the above mentioned budget shows the 20 percent increase. This extra money is expected to come from the funds and reserves that have not been spent in January, officials reported. County officials expect a worse outcome – apart from abandoned homes, an increasing number of companies will fall apart and abandon their business sites.

Orange County District has seen a number of foreclosures lately. Deputy County administrator Linda Weinberg said, “Experts tell us we’re in the first inning of a long game on commercial foreclosure.” She adds, “It’s disturbing. I don’t think this is going to be gone in two years. It’s a long haul issue.”