Auburn shames banks holding foreclosed homes

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by KING 5 News

KING5.com

Posted on September 13, 2012 at 7:42 AM

Updated Thursday, Sep 13 at 6:00 PM

The City of Auburn is taking action on bank-owned properties that are not being maintained.

Auburn has created an online Wall of Shame to put pressure on banks holding mortgages on these houses. Many of the houses have neglected front yards; some have moldy or interior walls. The site lists the properties that need work, including a picture, and names the banks that hold the property and contact information.

The banks KING 5 reached out to stated they knew ownership of the property had been transferred and they maintain the properties. However, Auburn Mayor Peter Lewis said it's taking too long for the work to get done. 

Lewis actually bikes around the city, taking pictures of properties to post to the Wall of Shame.

The site explains, "The mortgage holders are out-of-state financial institutions who are slow to respond or have hired property preservation companies who are not consistent in their maintenance services."

For one property, neighbors take turns mowing the lawn so that it gets done.

"It's driving the houses' prices down," said Mark Brandt, Auburn resident.

The City of Auburn is encouraging residents who know of any abandoned properties to give them a call so they can take a picture and get it up on the Wall of Shame.

This topic has generated a lot of discussion on social media. Join the conversation on our Facebook page.

KING 5's Mimi Jung and Natasha Ryan contributed to this report.

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