Sheriff Halts Foreclosure Sales In Wayne Co. MI.

[Motown_Johnny]

http://www.clickondetroit.com/news/18622999/detail.html

>snip<

Sheriff Says Sales Conflict With Federal Foreclosure Assistance Laws

DETROIT -- Wayne County Sheriff Warren Evans said Monday that he is halting all mortgage foreclosure sales that are transacted through his office.

Sales in the county are done on Wednesday and Thursday of every week and Evans said 300 to 400 foreclosed homes are sold each week.

"It doesn't help the lender or the buyer. It's just a vacant house that's going to be scavenged, the coppers going to be taken out of it, it's going to be a blight in the neighborhood," said Evans. "Common sense would tell me that occupying that house by anybody would be better for the structure than the person not being in it."






a step in the right direction?

[ColbertWatcher]

1. YES! "Produce the Note!"

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=266540&mesg_id=266540

[Motown_Johnny]

3. I think that if a sheriff evicts someone they tend to leave...

Trying to pass legislation that forces the note to be produced before an eviction is ordered might be a more reasonable approach.

I don't think encouraging standoffs with law enforcement officers is a great idea.

[ColbertWatcher]

4. Yeah, but the sheriffs are not doing them anymore! Or did I read that wrong? n/t

[Motown_Johnny]

7. you read it right, but it is more complicated than that

In Michigan you have 6 months from the time the property is sold at auction to vacate. So the houses sold last week, or the week before, or the week before.....


I don't see anything about them helping the people who's homes have already been foreclosed on and sold at auction. I expect they are in the system now and will be evicted unless some other help comes down the pipe in time to stop it.


Of Course.... I could be wrong.

[TahitiNut]

2. Detroit has the highest foreclosure rate and over 1 in 50 (19,000) are homeless.

It's a travesty of justice and a debacle. Unemployment, homelessness, breakdown of the infrastructure -- a city in its death throes.

[4 t 4]

5. Nice,good for him

makes perfect sense to me I wish more things made sense. In one of the local papers for many north side suburbs in Chicago the foreclosures went from page 13 to 82 and there only 4 jobs wanted only 4 use to be pages and that's on the north side of Chicago, the affluent hoods

[Motown_Johnny]

6. you don't know the half of it

I live there, my house was scheduled to be sold at auction Wednesday (2/4). This buys me more time in my house. There is already a law that allows 6 months from the date of the sale until the eviction date. So I had until august 4th.


The sad part is that I could stay in my house if I simply restructured my loan or went for a "short sale" to reassess my homes value and then refinance at that lower amount.

But.... the house right next to me was for-closed on last summer and has been empty ever since. It now has a sign in front of it that is asking 10K cash for it, and it still isn't selling. (This house is very similar to mine). I see no reason to fight to stay in my house when I can simply stop paying my mortgage and save that money up until I can buy the house next door, or one like it.



Things are getting worse here, it isn't just the people who can't afford to pay their mortgages that are being foreclosed on anymore. Some of us can afford it but the numbers just are not there to make it a reasonable financial decision. I doubt very much if any of the eggheads in thousand dollar suits have seen this coming.

[TahitiNut]

8. It's insane.

It makes no sense whatsoever for the bank to go through the expense of foreclosure and eviction and then, IF THEY'RE LUCKY, to sell the house for market value ... WHEN they could merely restructure the existing mortgage at that same market value for the resident/owner. That's a "win-win" ... and the imbeciles squatting at the head of companies are obsessed with the fictional "win-lose" - there's ONLY "win-win" and "lose-lose" in the real world.

Until 6 years ago, I was living in other states and out of the Detroit area for 30 years. As a WSU alum and a guy born and raised here (Mount Carmel Hospital), it was shocking to return and see what's happened to the city. I drove around the neighborhoods of former friends and girlfriends and ex-in-laws and places my own family once lived ... and damned near cried. I lived off-campus at WSU during the 1967 riots and it wasn't anywhere nearly as bad as I see now.