New Plan for Foreclosed Homes
Milwaukee is looking for another way to prevent foreclosed homes from popping up all over the city.
City Treasurer Spencer Coggs said he wants to speed up the process in obtaining foreclosed homes.
He is proposing a new plan.
Coggs said, \"This new initiative is designed to keep communities more cohesive by not allowing one vacant home to bring down the property value of the entire neighborhoods.\"
His initiative would cut out the city's collection law firm, meaning the home about to be foreclosed on would go straight to the treasure's office, accelerating the process by about a year.
\"We have to focus on those houses that are abandoned that are behind on their taxes,\" said Mayor Tom Barrett.