Countrywide, Washington Mutual, Lehman Brothers, all collapsed and went bankrupt.

Is this all just a racket and I need to wait for some economic collapse?

As you excavate you may need a temporary retaining skirt, so the soil dosn't collapse in during excavation, or you may need to go out doing it in tiers.

https://stevenpdennis.com/2019/05/27/kohls-jc-penney-and-the-relentless-collapse-of-retails-boring-middle/

Could be that it was lost in the shuffle of bank collapses and some company now owns it in a portfolio and they just don't have the time to be bothered.You just have to call the people that appear to own it and ask to speak with someone in their asset management department responsible for selling the properties (not the ones that maintain the properties).

I bought a House where the sewer was collapsed, inside and outside the house, the floor joists were on dirt and the whole first floor had to be redone...and a bunch of other stuff on top of that so on that one we didn’t make a lot of money...but it was buy and hold so it just pushes out the beak even.

The retaining wall has collapsed which made half of the backyard collapse also. 

Junk Bond collapse?

And sometimes the soufflé just collapses.

But that doesn't mean we are heading for a complete financial collapse.