Impact of foreclosures on the dollar

Every time a foreclosure happens which is now around 1 in every 65 people, governments lose money... They lose money in the form of taxes because when lenders foreclose on homeowners they do not pay the property taxes on that property... Instead they will attempt to sale the property to another buyer whom will begin paying the property taxes again... these lenders are required to file with the county clerks office when they foreclose but they rarely do so the county usually don't find out until it's too late to do anything about it... A city in Ohio has lost so much money in taxes from lender foreclosing and not paying taxes they decided to file suit on these lenders... Many times a homeowner will have to do a short sale or the lender will foreclose and the home for less than what the homeowner owed... The lender just writes this off as a loss to the IRS and it goes as "income" to the homeowner on their 1040... The homeowner obviously unable to pay the additional thousands in income taxes so the IRS allows them to file a hardship form to waive the amount... So the IRS takes the hit from tax collection... and as I’ve already stated the dollar or an country's currency is tied right to that country's ability to collect taxes...