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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 ...
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 ...
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
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 ...
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 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.
Foreclosure rescue in the United States is where a mortgage that is in arrears and where the lender is at the stage of foreclosing on the loan agrees to stop the foreclosure in exchange for funds received through loan modification or from a government grant. It may also refer to funds that allow the homeowner to repurchase the property at or ...
When June Walker made the last payment on her rent-to-own lease, she thought she'd finally achieved the American dream — a home of her own. But, the Detroit woman soon found out she'd been scammed.
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