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The number of tax foreclosure properties have gone down in recent years, Fox said. In 2023 there were 61 properties for sale at auction and in 2022 there were 71.
Oakland County foreclosed on the property and sold it at public auction for $24,500. A second person, Andre Ohanessian, owed $6,000 in delinquent taxes on a 2.7-acre property in Orchard Lake Village.
"Following foreclosure, and before any property is sold or the amount of surplus, if any, is known, owners must properly serve a notarized and completed claim form with the foreclosing government ...
A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
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 ...
In 2011, the Wayne County Treasurer's Office netted a record $32 Million from the Bid4Assets online auction of 14,000 tax-foreclosed properties, double the amount collected the previous year. [12] In September 2011, the Golden Eye Diamond, a flawless 43.51-carat Fancy Intense Yellow diamond sold for $2,843,623 to Jerre Hentosh. The auction was ...
As of July, the tax bills were late on 45% of the 81 properties owned or managed by Gary Thomas. He was behind $164,428.55, according to county records. Properties managed by Ross Thomas, who ...
Deed in lieu of foreclosure. A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower ...
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