Wells Fargo racks up $57,000 fine on 2011 foreclosure

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Wells Fargo racks up $57,000 fine on 2011 foreclosure

Wells Fargo racks up $57,000 fine on 2011 foreclosure

Wells Fargo Bank racked up $57,000 in fines for code violations at a single-family home in Altamonte Springs, and now the bank wants a discount on its bill.


Orlando Sentinel-

The Wells Fargo home is an example of a large fine associated with a long-term foreclosure property. The number of such properties has declined since the Great Recession; but the longer such homes are vacant, the more serious problems they cause. Over the past month, Sentinel writer Mary Shanklin has covered the issue of zombie foreclosures in several stories with databases. Such properties can cause concern about surrounding property values.

 

The Wells Fargo home, at 333 E. Citrus Street in Altamonte Springs, has been racking up fines since May 2011 — including a stagnant swimming pool and missing fences. The bank took action to correct problems on several occasions. According to a Seminole County report, Wells Fargo took possession of the property in August 2011 through a foreclosure judgment.

[ORLANDO SENTINEL]

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