The program stems from a new state law that allows counties to bypass the normal court process and carry out a foreclosure administratively, reducing the time it takes to foreclose from two-plus years down to as little as three months. County Treasurer Jim Rokakis says the huge backlog of foreclosure cases causes abandoned homes to sit for many months, attracting crime and driving down the value of neighboring properties.
Rokakis says the program only applies to homes that are tax delinquent, abandoned or vacant.
Jim Rokakis: We realize this isn't a panacea.
Instead of going through the courts, qualifying cases will go through a board of revisions. In many cases, Rokakis says, the board will skip putting properties up for auction and instead turn them over to city land banks and non-profit development corporations. Bill Rice, 90.3.