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DETROIT (AP) — 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 ...
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 GAO found that in the period January 2008 to March 2010, mortgage servicers charged off 46,000 properties, with 60 percent of the charge-offs occurring before an initial foreclosure filing was made. In this period, Detroit, Michigan had the highest number of bank walkaways, with Chicago, Illinois being second.
A penny auction is a collective action taken during the auction of a foreclosed property to force the sale of the property at a low price, with the intent of then returning the property to its previous owner.
The Mural Project was successful in improving the appearance of over a dozen homes in the area and was featured on Detroit's radio station WJR. The project was a way to encourage involvement in preserving a community that has been physically affected by foreclosures and was funded by a grant from the Collin Hubbel Fund. MorningSide Mural Project
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