Menlo Park: City to pay $518,500 to buy back home | March 13, 2013 | Almanac | Almanac Online |

Almanac

News - March 13, 2013

Menlo Park: City to pay $518,500 to buy back home

by Sandy Brundage

Two members of the Menlo Park City Council urged the city to explore criminal charges against a couple who bought a home through the city's below-market-rate housing program, but then within two years of the purchase, took out more than $1 million in loans against the property before defaulting on payments.

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Posted by Deadbeats Taking Advantage of the System
a resident of Menlo Park: Downtown
on Mar 12, 2013 at 4:23 pm

Way to go City of Menlo Park! Cost the hard tax-paying > $500k just for some shared mistakes of BOTH the City staff (who should be canned!) and the homeowners who took advantage of rules and not complying.

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