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LA Looking to Create Big List of Foreclosed Properties

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If you heard about that new foreclosure database Los Angeles intends to create, and thought, "Sweet. A new way to look for homes," well, the list of homes won't be accessible to the public. "It's a tool for police, fire and building and safety to use," writes a press rep for City Councilman Greig Smith in an email. Sorry, scavengers. But worried about safety issues associated with vacant and foreclosed-upon properties, the city is now going to start keeping track of all those foreclosures. Well, they're going to try to keep track. Today, the City Council passed a motion that "requires owners of vacant properties and foreclosed properties to register ownership with the city." Owners who don't register with the city will face fines. There are also new rules regarding the disconnection of utilities at occupied foreclosed rental properties, and the original motion also says there'll be a fee to register the properties. But given how screwed up the banks are at this point, can anyone expect them to get it together to register with the city? Related: News about LA County foreclosures. CIty Hall via You are Here
· Los Angeles area foreclosure rate increases [LA Times]