The Real Deal Miami

Proposal for foreclosure fees fails

August 04, 2010 11:15AM

Greenacres City Councilman Jonathan Pearce

A proposal that would have charged banks fees to foreclose on
homes in Greenacres has failed. Council members discussed the proposal
by City Council member Jonathan Pearce, but did not put it on the agenda for a
formal vote. Pearce said he was the only member who expressed interest in
the proposal. Modeled after a similar program in Boynton Beach, which has been on the books since October, the plan would have required banks to pay the city $200 for
every home of theirs that was empty due to foreclosure. Boynton Beach charges $150 per year per foreclosed home,
which has raised an estimated $60,000 for the city. [Palm
Beach Post]