Michigan is among 49 other states to receive a chunk of cash from a landmark $26 billion settlement from five banks for alleged foreclosure abuse.
Charles Brown, 62, said he’s been squatting in his home for about a year. He said he installed windows and doors and uses the fireplace for heat.
Prices in Detroit declined one-half of a percent from August levels.
President Barack Obama will announce new rules on Monday to help homeowners with little or no equity in their homes refinance their mortgages to avoid foreclosures.
Dozens at a Noon rally in downtown Detroit are voicing their demand to Bank of America.
The public is invited to bid in Wayne County’s second annual online auction for foreclosed properties.
In Michigan, foreclosure-related sales accounted for about 41% of all sales in the state during the second quarter.
Curtis Hertel, the “Register of Deeds” in Ingham County, says current law exposes struggling homeowners to fraud and a variety of scams.
The “Step Forward” awareness effort has helped contribute to a 16 percent decline in Michigan’s foreclosure activity in July from the previous month and a 42 percent decrease in foreclosure activity from July 2010.
Foreclosure slaes in metro Detroit rose in June from year-ago levels while non-foreclosure sales plunged, according to new figures from the Farmington Hills real estate information form Realcomp II Ltd.