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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, meaning that ...
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 ...
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 ...
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 ...
House in Salinas, California under foreclosure, following the bursting of the U.S. real estate bubble. The 30-year mortgage rates increased by more than a half a percentage point to 6.74 percent during May–June 2007, [78] affecting borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified ...
It was sold to WRS Inc. Real Estate Investments in 2019. [83] [84] In August 2018, Kohan sued Clay, New York for a reduction in the Great Northern Mall's taxes, while owing $1.53 million to county government. [85] Due to the roofs poor condition, Effingham City declared Village Square Mall unsafe in August 2018. [86]