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Banks high on list of delinquent property owners, Not certain they even own the homes?

Banks high on list of delinquent property owners, Not certain they even own the homes?


BOSTON GLOBE-

Two of the city’s top delinquent landlords are not landlords at all. They’re banks.

City officials said Wells Fargo & Co. and Bank of America owe more than $80,000 in fines for allowing many vacant properties in foreclosure to fall into disrepair and blight neighborhoods.

Yet both banks, two of the nation’s largest, question whether they are responsible for the properties and tickets. Wells Fargo representatives, for example, said they don’t even know if they own many of the homes; Wells Fargo could be servicing a foreclosure for another bank, or acting as a trustee for a giant pension fund that holds the mortgage.




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