Mortgage Segment Inspections & Property Preservation Drying Up … Federal Government Throwing Money At Tear Downs
The mortgage segment is the home of $3 mortgage drive-by inspections requiring 7 photos and 99% of the fraud in the industry. In some areas, too many mortgage inspectors are chasing fewer inspections and fees have dipped below the $3 level. Mortgage delinquencies and foreclosures are at record lows. Mortgage inspectors are wearing out their cars and wasting their time with low-fee inspections.
Today the Federal Government is throwing money at tear downs. You may not be performing tasks in the mortgage segment, but you through your federal tax dollars are paying for all of the mistakes in the mortgage segment. The City of Detroit stands to receive an additional $21.25 million in demolition money from the federal government under a proposal authorized by the Obama administration and approved Wednesday by a state housing board. The money will be enough to take down nearly 1,300 blighted structures if recent averages hold.