Monday, November 13, 2017

Detroit Land Bank Authority Is Dumping Its Housing Stock!

TRANSLATION: Detroit Land Bank Authority
Educator, City Employee, "anyone willing to
give up some quick cash" Discount Program
to pay criminal attorney fees
How unfortunate!

Such a shame they did not offer this to the school kids of Detroit, whose families had their homes stolen by the Detroit Land Bank Authority.

Gotta pay those SIGTARP attorney fees.

The Detroit Land Bank Authority has now resorted to another offering of 50% off program to Detroit teachers and employees, or anyone with a few bucks, to buy a house.

Only one problem:

The quit claim deeds are so jacked that it is impossible to find any "legal", notice I am emphasizing the word "legal" financing to repair the homes.

Do not even think about home owners insurance, because the title work is just a hot mess.

If ever the notion of hiring a licensed, private contractor to come in and rehabilitate your newly, purchased discount home comes to mind, I strongly encourgage you to dismiss that fantasy with the quickness because of the jack-legged title paperwork, no one is willing to take your money.

Just a legal liability issue.

Lastly, as a fair warning, you might not want to pay any of the back taxes the Detroit Land Bank Authority will levy as they do not exist.

Seriously, the delinquent property taxes do not exist because the properties went through quiet title action, which wipes all past taxes, including water bills.

There are no water bills attached so do not pay it.

But, before I go, when you decide to purchase your 50% discounted property from the Detroit Land Bank Authority, go have some fun and make the certified check out to the Detroit Land Bank Authority.

Make sure to share your stories on how they react when you hand them the check.

Take pics.

Home auction program gives half off to Detroit teachers

Detroit – The Detroit Land Bank Authority is offering half off to current full-time educators and school support staff for homes up for auction in the city.

 The Land Bank says the educator discount program also is open to principals, counselors, teacher’s aides and other employees at pre-kindergarten through 12th grade schools in Detroit.

Discounts will be applied at closing and only can be used once.

 A city employee discount also offers 50 percent off on Land Bank-owned homes to city of Detroit workers, retirees and their immediate family members.

 The Land Bank helps Detroit redevelop vacant and abandoned properties and has acquired tens of thousands of homes. Some are rehabilitated and set up for the auction program.

Others that can’t be saved are demolished.

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