Detroit Real Estate News
6 hrs ago | via WLNS-TV Lansing
Up to 17,000 Detroit-area property owners have entered into payment plans hoping to avoid losing their homes to tax foreclosure, and that number will likely rise. Hundreds of applicants lined up before 7 a.m. Tuesday outside the Wayne County Treasurer's Office in Detroit before the tax repayment plan deadline. Comment?
Yesterday | via Foster's Daily Democrat
Sixty-two thousand properties have faced foreclosure in Detroit this year over unpaid taxes. About half will likely be auctioned for $500 apiece this fall. Comment?
Wednesday Mar 25 | via Metro Times
Following yesterday's Detroit City Council meeting, where a bevy of activists urged the board to throw their support behind a moratorium on tax foreclosures in the city , a group of housing advocates say they will meet with Wayne County Treasurer Raymond Wojtowicz to deliver thousands of petitions calling for a halt to the process. "We have new tax laws that haven't had time to work and we know property in Detroit has been over-assessed, resulting in unfair tax bills," said Aaron Handelsman of the Detroit People's Platform, in a statement. Comment?
Tuesday Mar 24 | via Metro Times
Detroit City Council meeting on March 24, 2015 was moved to the Erma Henderson Auditorium at the Coleman A. Young Municipal Center after a large crowd turned out. A cascade of foreclosures could soon crash over Detroit, and while city, county, and state officials have pledged to take precautions to ease the blow, local activists have stepped up to offer a solution of their own. Comment?
Tuesday Mar 24 | via MLive.com
City officials have said that about 18,000 Detroit families faced foreclosure this year, but at least 40 percent of them were able to save their homes through payment plan programs, the mayor and county treasurer's offices announced earlier this month. News state laws passed late last year allowed interest rates for such payment programs to be reduced from 18 percent to 6 percent. Comment?
Wednesday Mar 25 | via Freshnews
Residences living in Oakland County, Michigan now have a solution for various real estate inquiries and needs. Tom Gilliam, RE/MAX Realtor and his HOMES2MOVEYOU.COM web site offers its expertise to be a one stop resource for people who live or who wish to live in Farmington Hills, Troy, Bloomfield Hills, Ferndale, Royal Oak, Northville, Novi and Metro Detroit area. Comment?
Tuesday Mar 24 | via WJRT
A new bipartisan package of bills being introduced in the Michigan Legislature aims to support survivors of domestic violence, sexual assault and stalking. It would let survivors apply for unemployment benefits if they must leave their job to protect their safety. Comment?
Tuesday Mar 17 | via MLive.com
West Michigan real-estate developer Charles Patrick Gahan, accused in an $8 million mortgage scheme, is expected to make his initial appearance Tuesday, March 17, in U.S. District Court. Gahan had long been considered a suspect in a "mortgage stacking scheme" where multiple mortgages were taken out on property without lenders' knowledge. Comment?
Thursday Mar 12 | via The Washington Post
That's the message to traders in the $375 billion opaque market for collateralized loan obligations after Matthew Katke, a former Royal Bank of Scotland Group Plc CLO trader, pleaded guilty Wednesday in the U.S. to committing securities fraud. Katke agreed to cooperate with federal prosecutors' investigation into a multimillion-dollar scheme to cheat customers who bought and sold bonds. Comment?
Saturday Mar 7 | via Los Angeles Times
Homeowners wait inside a convention hall at Detroit's Cobo Center for hearings that offer them a last-ditch chance to avoid foreclosure. Wayne County says 62,000 Detroit properties are subject to foreclosure this year. Comment?
7 min ago | via GlobeNewswire
The Federal Home Loan Bank of San Francisco announced March 31, 2015, that the 11th District Monthly Weighted Average Cost of Funds Index for February 2015 is 0.700%. The index for January 2015 was 0.698%. Comment?
8 min ago | via Business Wire
Net income availab... INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Norcraft Companies, Inc. of Commencement of an Investigation Concerning the Fairness of the Sale of the Company to Fortune Brands Home & Security, Inc. )--Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Norcraft Companies, Inc. to Fortune Brands Home & Security, Inc. )--Fitch Ratings has affirmed the ratings of Bank of Nova Scotia's outstanding CAD-equivalent 8.6 billion registered mortgage cov... )--SPP acquires Eagle Ford assets from Sanchez Energy for $85 million, financed with a private placement of newly created Class A Preferred Units, common units, and borrowing... )--Allegion, plc , a leading global security products and solutions provider, will release its 2015 first-quarter financial results on Thursday, April 30, 2015, be... )--Fitch Ratings has assigned ... (more) Comment?
8 min ago | via Business Wire
The rating is based on BNS's Long-term Issuer Default Rating of 'AA-', an unchanged Discontinuity Cap of 3 and the 93.5% asset percentage that Fitch takes into account in its analysis, which equals Fitch's 'AAA' breakeven AP. The Stable Outlook for the covered bonds' rating is due to the Stable Outlook on the Canadian sovereign and on BNS's IDR. Comment?
19 min ago | via Reuters
Former Fannie Mae CEO Daniel Mudd testified on Tuesday in a $1 billion civil trial over losses the company suffered on mortgage-backed securities and said it did not predict the severe decline in U.S. housing prices during the financial crisis. Mudd appeared in Manhattan federal court after being subpoenaed by Nomura Holdings Inc and Royal Bank of Scotland Group Plc to testify in a trial pursued by Fannie's conservator, the Federal Housing Finance Agency. Comment?
23 min ago | via San Jose Mercury News
U.S. home price increases continued to rise at a steady pace in January, as the housing market deals with affordability problems and few properties listed for sale. The Standard & Poor's/Case-Shiller 20-city home price index rose 4.6 percent in January compared with 12 months earlier, S&P said Tuesday. Comment?
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