Town Square

Post a New Topic

Homeowner's default cost city $100K

Original post made on Feb 23, 2010

Between legal fees and missed loan payments and homeowners' association dues, the default on loans by a homeowner of a below-market-rate housing unit in the Menlo Square complex cost Menlo Park about $100,000, according to the city.

Read the full story here Web Link posted Monday, February 22, 2010, 11:37 PM

Comments (1)

Posted by Concerned, a resident of Menlo Park: Downtown
on Feb 23, 2010 at 2:49 pm

The $100,000 does not include the staff time to deal with the program and this problem. Current estimates for staff time are in the millions of dollars for the BMR program.

Our council majority doesn't care.


If you were a member and logged in you could track comments from this story.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Handmade truffle shop now open in downtown Palo Alto
By Elena Kadvany | 3 comments | 2,359 views

Breastfeeding Tips
By Jessica T | 4 comments | 905 views

Weekly Update
By Cheryl Bac | 0 comments | 732 views

Pension Contribution Changes To Have A Multi-Million Dollar Impact To Menlo Park School District
By Erin Glanville | 7 comments | 651 views

Separate Entrances for BMR and Market Rate Apartments?
By Stuart Soffer | 0 comments | 402 views