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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 ...
The Michigan Supreme Court in 2020 said counties can't keep profit from tax foreclosed properties. The decision is retroactive, the court said Monday. ... Kent County foreclosed on the home and ...
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...
Bank walkaway. A bank walkaway is a decision by a mortgage lender (a bank) to not foreclose on a defaulted mortgage (when the borrower has ceased to make the payments), or to not complete foreclosure proceedings (to "walk away" from the mortgage). These are sometimes referred to as abandoned foreclosures or stalled foreclosures, though this ...
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1][2] Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower ...
Public-benefit corporation. Professional title. Equal housing opportunity provider. Location. Detroit, US. Website. www.buildingdetroit.org. The Detroit Land Bank Authority [1] is a public authority that owns and manages approximately 100,000 parcels of property in the city of Detroit, making it the city's largest landowner. [2]
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