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The foreclosure process begins when a financially distressed homeowner fails to make a loan payment and is served with a summons from his or her creditors. After service, papers will be filed with the county clerk's office and be made a matter of public record (in some areas the place where deeds and mortgages are registered may go by a different name, such as the office of the land registrar).
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 ...
Tina Lam and Michael Cheng purchased the property for $90,000. The story received national attention and the city ultimately reversed the sale. [14] In June 2020 Bid4Assets conducted Utah's first internet-based tax sale for Iron County, Utah. All 135 properties either received a bid or were redeemed for payment of taxes. [15]
There is sticker shock as Milwaukee homeowners get their new property assessments. On average, Milwaukee properties are up about 17%. But average home assessments are up even more.
In 2012 the mall was foreclosed upon and was put up for auction in October 2013. [6] New York based real estate firm Alliance Capital Invest won with a final bid of $16.5 million. After struggling to improve performance, the mall was sold to a local ownership group for $24.6 million in December 2015.
One of the south side of Milwaukee's largest 33.6-acre (136,000 m 2)public parks, Kosciuszko Park, is located in the Lincoln Village neighborhood. Originally known as Lincoln Avenue Park and locally known as "Kosy," the park is a gathering place that has been vital to the health of the neighborhood for over a century.
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