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Monday, December 13, 2010

Banksters Causing Huge Revenue loss: Governments across state lose revenue when banks get repossessed homes' tax breaks - OrlandoSentinel.com



Not only do banks get repossessed homes' tax breaks in Florida, but foreclosed homes throughout the entire United States sell for approximately 32% less than unforeclosed homes, so once the bank actually sells the home, the property tax loss to the state becomes even greater.
In other words, once a home is foreclosed upon by the banksters, the state loses money by either giving the bank a homeowners tax break, or by having the home resold at a 32% price reduction. Lets not forget that the banksters are also using taxpayer resources to fund the actual foreclosure process through the state courts.
And to think that close to a million homeowners have actually been accelerated through the foreclosure process by the Parallel Foreclosure procedure that the banksters adhere to.

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