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2. Bill McMachen of Michigan Buys Hundreds of Foreclosed ... - AOL

   www.aol.com/news/2012-08-03-bill-mcmachen...

   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 ...

3. Marketplace Homes - Wikipedia

   en.wikipedia.org/wiki/Marketplace_Homes

   According to Inc Magazine, Marketplace Homes was the 98th fastest growing real estate company in the US in 2012. [1] With a reported $30 million in revenue in 2014, Marketplace Homes was again added to the Inc. 5000 list, marking four consecutive years on the list. [2]

4. Michigan Supreme Court weighs in on tax foreclosure profits ...

   www.aol.com/michigan-supreme-court-weighs-tax...

   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 ...

5. Michigan's top court gives big victory to people trying to ...

   www.aol.com/news/michigans-top-court-gives-big...

   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 ...

6. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   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 ...

7. Penny auction (foreclosure) - Wikipedia

   en.wikipedia.org/wiki/Penny_auction_(foreclosure)

   The process—usually achieved with a combination of intimidation, threats, and physical force—effectively circumvents foreclosure by forcing the lender to relinquish the property without an opportunity to recuperate the balance of the loan. The term arose during the foreclosure of farms during the Great Depression in the United States.