Foreclosure Registry Fee Adds $100,000 To Aurora's Coffers
Fee Pays For Enforcement Of Maintenance Requirements
POSTED: 10:33 am MST November 20, 2009
UPDATED: 10:44 am MST November 20, 2009
AURORA, Colo. -- Aurora's new foreclosure registration policy is a win for the city and for neighbors.The law has helped Aurora raise nearly $100,000 in six months, according to the Aurora Sentinel newspaper.Aurora created a law in April that every foreclosured home or vacant home must be registered with the city. There's a $50 fee. Lenders who don't register face a $150 fine every 90 days.
The city created the ordinance to ensure lenders were maintaining the properties they own. Some neighbors told 7NEWS the law has helped improve the look of their neighborhoods.Aurora’s Neighborhood Services worker Jeff Hancock told the newspaper the city registered 732 vacant properties during the third quarter of 2009.
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