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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 ...
After a Michigan Supreme Court ruling, here's how former property owners can make claims for profits from tax foreclosure sales. Thousands of former Michigan homeowners could claim profits of ...
She constructed a mansion overlooking the lake in 1903, and began planting fruit trees. She named the property the "Lakewood Farm." She lived at the farm until 1910, when she listed it for sale. [2] In August 1910, George Fulmer Getz, the owner of Chicago-based Globe Coal Company, purchased Lakewood Farm and the mansion built by Ida Fay.
Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]
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 ...
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