« Return to News

Rochester starts cataloging vacant foreclosures

Upset that some banks are not taking a more proactive role in maintaining vacant foreclosed properties, the city of Rochester, N.Y., is cataloging foreclosures and empty properties to pressure banks to move quickly in their handling of distressed assets.

The Democrat and Chronicle, a local paper in Rochester, says many of the homes are in relatively stable condition, but the banks are taking too long to clean up or maintain the residences.

The paper asserts that Wells Fargo maintains the most active foreclosure filings on vacant properties in the city, while Bank of America has the most vacancies not being maintained.

Click here to read more.