Syracuse Mayor Asks HUD to Cancel Foreclosure Auctions
March 18, 2008
Matthew Driscoll, a New York mayor, is asking HUD to cancel auctions on seven rental properties in Syracuse. Empire State News reports:
“In a letter to HUD officials, Mayor Driscoll asked that the courthouse auction of the seven former Longley Jones properties be cancelled in favor of an RFP process for the properties. The Mayor believes an RFP process would allow more local input and careful selection of the most qualified management for the rental properties at a time when speculators have been focusing on the Syracuse property market.
“Taking the highest bid in a hastily-called auction won’t guarantee that we get new ownership that is committed to managing quality rental property for the residents of Syracuse,” said Mayor Driscoll.”
If the request is granted, it may open the door for other communities to stop HUD foreclosure auctions on local properties. This may reduce the number of absentee landlords. However, it may also cost HUD a significant amount of extra time and money.
The auction in question is currently scheduled for March 26th.
See Also: The Step-by-Step Guide to Buying HUD Foreclosure Homes
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