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)

Like this comment
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.


Sorry, but further commenting on this topic has been closed.

Burger chain Shake Shack to open in Palo Alto
By Elena Kadvany | 18 comments | 5,016 views

The Cost of Service
By Aldis Petriceks | 1 comment | 1,218 views

Couples: When Wrong Admit It; When Right; Shut Up
By Chandrama Anderson | 0 comments | 743 views

One-on-one time
By Cheryl Bac | 0 comments | 568 views