Las Vegas Sun

August 15, 2022

Currently: 83° — Complete forecast

Letter to the editor:

Banks should be made to pay for derelict homes

In your Tuesday article about using juvenile offenders to clean up foreclosed homes, the headline on the jump page stated, “County commissioner’s calls to banks fruitless.”

I have a solution.

Why don’t these same Clark County commissioners pass a new ordinance fining whatever lending institution owns these derelict foreclosed homes $1,000 a day, and use the county legal department to file monthly lawsuits against these institutions for their unpaid fines?

You could kill two birds with one stone this way — get the properties cleaned up or add to the bankrupt county coffers. It’s a win-win situation.

These institutions are not going to willingly do what they should, so fine them a hefty amount on a daily basis, just like you would fine a contractor who doesn’t fulfill contractual obligations.

My guess is that once these lawsuits start costing them money out of their profits, and legal fees, they will start maintaining the properties, hence making them more attractive to possible purchasers who hopefully would reduce the glut of foreclosures for sale.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy