The Real Deal Miami

Banks, towns spar on upkeep costs

April 27, 2009 12:19PM

It cost Coconut Creek $70,000 to get rid of an abandoned house. Lighthouse Point has also paid for the cost of empty foreclosed houses. Lauderdale-by-the-Sea has persuaded lenders to maintain about a dozen homes. But a lobbying effort by Florida Bankers Association going before the legislature would keep local government from charging banks for home upkeep until the bank has title to the land, which can take six months.