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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 ...
Buying foreclosed homes soared in popularity during the Great Recession as a wave of foreclosures hit the market and drove down prices nationwide.
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 ...
The property inventory of the Detroit Land Bank consists of vacant lots, abandoned houses, and many other structures that were often forced into tax foreclosure. The Detroit Land Bank sells houses on its website through multiple programs, including Auction, Own It Now, and Rehabbed & Ready.
The National Community Stabilization Trust (NCST or Stabilization Trust) is a Washington, D.C.–based non-profit organization that facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations to promote property reuse and neighborhood stability.
In July 2002, Bid4Assets conducted an internet-based tax sale for Washtenaw County, Michigan. This was Michigan's first-ever online tax-foreclosed property auction. [10] In 2005, Bid4Assets sold the Sandshaker Lounger, Package Store and Sandwich Shop, a popular Pensacola, Florida hangout.
Homeowners facing foreclosure with substantial equity in their home. Property flippers. People who buy properties to renovate and resell them for a profit, known as property flippers, will often ...
Since completing his time in elected office, Tobocman has served as the co-director of the Michigan Foreclosure Task Force. This is a 200-member network of foreclosure counseling agencies, community development corporations, legal services attorneys, neighborhood associations, local governments, statewide trade associations, and banks that work on the front lines of the foreclosure crisis in ...
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