Metro Times & Bridge Magazine Refuse To Speak Upon The Detroit Land Bank Authority Fraud Schemes

The Detroit Land Bank Authority is not hoarding houses because no one wants them.

See, all the good houses went to their friends and family, first.  Just ask Adam Hollier and other officials.

Then, considering the fact that Detroit has one of the highest rates of child poverty in the nation for a major city, no one can afford to purchase.

Then, no one wants to buy the homes because the average individual cannot afford the permits, materials, labor to bring it up to code.

Then, due to the jacked up deeds, no one can get a mortgage or a lien for construction.

I have not checked recently, but, they were attempting to enforce their own private, made up, laws and code enforcement with threats of reconveyance, because they did UCC liens on all the properties, that no one could bring the house up to code within the 6 months mandated time frame, which means, even if you did buy the home, you would never, ever own it because they bundled and flipped for more financial transactions.

I just do not understand why articles, such as this, are continuously generated to intentionally omit any of the work I have done on the Detroit Land Bank Authority, but then again, it is best to stay away from me because I have a very strong aversion to propaganda.

I truly hope there is going to be federal receivership for the entire City of Detroit to absorb this hot mess.

In the spirit of fuchsia...

Report: Detroit Land Bank is hoarding houses

Detroit's Land Bank was established in 2011 to sell Detroit's blighted homes, which have ballooned in number following the last decade's subprime housing and tax-foreclosure crises. So far, the organization has accomplished one part of its mission, amassing tens of thousands of vacant homes. The only problem is — the quasi-governmental agency doesn't seem to really be doing anything with them.

Ok, Metro Times is going to have to come up with some proofs to support the statement by Bridge Magazine that the Detroit Land Bank Authority was established in 2011.

So says a new report from Bridge Magazine, which takes a look at the Land Bank's numbers. The city has at least 43,500 vacant homes, and the land bank owns nearly 30,000 of them. Many of the homes were acquired through tax foreclosures, with more than 1 in 3 Detroit homes having gone into foreclosure in the past 15 years. According to Bridge, of the Land Bank's stock, only 3 percent are listed for sale, and the Land Bank owns about 20 percent of the single-family homes in the city. That's a lot of houses going nowhere.

Well, it seems no one wants to discuss my work on this matter, but you can, by clicking the link.

The Land Bank's executive director Saskia Thompson told Bridge that there is room for improvement — she said she'd like to increase monthly sales in the next year — but also defended the organization's practices.

"People say to us 'you aren't putting them up for sale fast enough,' but there is nothing that we can see in the market there that actually tells us that we are doing this too slowly," she said. "I would say it's the opposite. In some parts of the city, we are 75 percent of all the market activity."

Saskia has some defensive issues she is going through, right about now.

But some homeowners and prospective homeowners described a frustrating process in trying to acquire Detroit Land Bank-owned houses, including confusion in how the process works, unresponsive phone calls sent to the agency, and a lack of help for people who have to make repairs to land bank bought-houses — which require repairs within six months of purchasing lest the house reverts back to the agency.

That is what happens when you deal with "Legal Geniuses" (trademark pending).

"I wouldn’t recommend for anybody else to buy through the Land Bank," one struggling homeowner told the publication. "Not at all."

Neither would I.  The titles are all jacked.

Michigan's rates of black homeownership have plummeted since 2000, according to one study. This has been felt particularly strong in majority black Detroit, where 54 percent of residents rented in 2016, compared to 45 percent in 2000. Meanwhile, the city has ramped up petty blight enforcement against citizens, The Detroit Land Bank is currently under investigation by the federal government for possible bid-rigging and its rising costs of demolitions. 

I wish people would stop reducing public corruption down to arguments of melanin.  Fraud, is an equal opportunity daily event, as long as this Detroit Land Bank Authority continues to operate.

Stay tuned.

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