The Housing Chronicles Blog: Bank chooses to destroy new homes rather than pay daily fines

Thursday, April 30, 2009

Bank chooses to destroy new homes rather than pay daily fines

What a waste of good materials. Rather than continue to pay daily fines to the City of Victorville for unfinished new homes built by Matthews Homes on which they had foreclosed, Guaranty Bank of Irvine instead hires a company to bulldoze them. And, according to a member of the wrecking crew at the site, they've got another 26 homes in Temecula on their destruction list. Is this really the best way to handle this problem? (Hat tip: Calculated Risk):

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