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2. Bill McMachen of Michigan Buys Hundreds of Foreclosed ... - AOL

   www.aol.com/news/2012-08-03-bill-mcmachen...

   For around $4.7 million, you might be able to snag one gleaming, top-of-the-line luxury home in a top market. In Michigan's Macomb County, though, it bought one man 627 homes. Bill McMachen, who ...

3. Thousands of former Michigan homeowners could claim profits ...

   www.aol.com/thousands-former-michigan-homeowners...

   After a Michigan Supreme Court ruling, here's how former property owners can make claims for profits from tax foreclosure sales. Thousands of former Michigan homeowners could claim profits of ...

4. Michigan Supreme Court weighs in on tax foreclosure profits ...

   www.aol.com/michigan-supreme-court-weighs-tax...

   In another case, the state of Michigan foreclosed Lynette Hathon and Amy Jo Denkins’ property in 2018 for nonpayment, sold it for $28,250 at the auction and retained the surplus proceeds. They ...

5. Foreclosure investment - Wikipedia

   en.wikipedia.org/wiki/Foreclosure_investment

   Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property. In real estate , foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage.

6. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...

7. Real estate owned - Wikipedia

   en.wikipedia.org/wiki/Real_estate_owned

   Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]

8. Michigan's top court gives big victory to people trying to ...

   www.aol.com/news/michigans-top-court-gives-big...

   The Michigan Supreme Court said Monday that its 2020 decision stopping local governments from keeping cash windfalls from the sale of foreclosed homes can be applied retroactively, meaning that ...

9. Penny auction (foreclosure) - Wikipedia

   en.wikipedia.org/wiki/Penny_auction_(foreclosure)

   The process—usually achieved with a combination of intimidation, threats, and physical force—effectively circumvents foreclosure by forcing the lender to relinquish the property without an opportunity to recuperate the balance of the loan. The term arose during the foreclosure of farms during the Great Depression in the United States.