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Are you kidding me? Why isn't this a thing: He had made a previous purchase in the yearly tax foreclosure auction. His coup turned less appealing as h
by cyphunk 12y ago
Are you kidding me? Why isn't this a thing:
He had made a previous purchase in the yearly tax foreclosure auction.
His coup turned less appealing as he was confronted with the reality of
removing the owner and then-occupant from her home. Goldenberg sold the
house back to its occupant for the bargain price of $7,000 – twice what
he had paid for it, but half what she had owed in property taxes.
Meaning why isn't there a protection agency or service that buys houses from these foreclosure auctions and sells them back to their owners at a bargain???
- gajomi 12y agoI agree. This seems like a no brainer. Barring any legal barriers that might arise in the implementation of such a scheme, it seems like the main bottlenecks would be (1) verifying that the current occupant was indeed the original title holder (2) transferring the purchased title to said previous occupant without incurring substantial fees From a the technology standpoint it seems to me like everything else could be fairly standard CRUD. There might be a bipartite graph between lenders and the foreclosed upon, simplified by averaging the resources of the former across all nodes. Can anyone keen on the Detroit scene pipe in on the legal aspects?