Foreclosed in Gales Ferry!

According to RealtyTrac, there are 260 foreclosed properties available for sale in New London County and another 733 in pre-foreclosure. Almost half of the foreclosed properties are located in the city of New London, which I suspect is a result of the predatory lending situation uncovered recently there. 

This Gales Ferry home has been vacant and abandoned for many months.  I was assigned this property by the lending institution that now owns it.  I've completed all the necessary paperwork and have taken a number of photos which show that the property is vacant and in desperate need of trash removal.  I did this in July.  In August, I was asked again to provide photos, this time to a different team member. In August, I provided 3 bids to have the trash removed. This week I received an email from the lender asking me to send photos so they can see if any trash needs to be removed.  So what happened to everything I sent in July and August?  I have another foreclosure from the same lender in the Norwich area.  I emailed an offer to them on Tuesday.  No response.  I faxed it on Friday morning.  No response.  I'm not surprised.  I usually tell buyers not to even look at a bank foreclosed property unless they have the patience of a saint. 

With foreclosures increasing, you would think it would be in a lender's best interest to reduce their inventory.  If they handle their day to day business the same way they handle their foreclosed properties, it is no wonder so many lenders are in trouble.

Still waiting in Gales Ferry.