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After a Michigan Supreme Court ruling, here's how former property owners can make claims for profits from tax foreclosure sales.
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.
They were one of the few large apartment buildings built in Detroit. [ 2 ] Triton Properties acquired the historic Alden Park Towers property, located on Detroit's Gold Coast (the East Jefferson riverfront) in 2012, out of foreclosure for $2 million in August 2012, and began a $5 million plus renovation of all 382 apartment units in the four ...
First, the owner is behind in mortgage payments but still retains full control of the property. Then, the owner is still on title but has lost control of the property to the Court of Queens Bench of Alberta. Last, the legal title has been transferred by the courts to the banks. The entire foreclosure process in Alberta can take a year or longer.
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