One-Fifth of Detroit's Population Could Lose Their Homes

[rex]

I truly prefered the """Who is ""working "" the system""" as it pertained
to people UNABLE to help themselves by merely reading or searching out help.
I don't care about the 1/5th part or the 20% part at all - it could be 2% , etc.

Some people didn't learn enough in their educational upbringing,
to seek out help, especially when they need it most, in dire situations,
like loosing their house, apartment, condo, etc.

Attempting to learn - is work - and some appear to avoid it.

What in the hell are you talking about?

[RapBrown]

Some people didn't learn enough in their educational upbringing,
to seek out help, especially when they need it most, in dire situations,
like loosing their house, apartment, condo, etc.

Attempting to learn - is work - and some appear to avoid it.

Seriously man, you're questioning peoples education and you can't even spell "losing" correctly, with a spell check feature?

[sumas]

If willi is so concerned about Detroit maybe he/she could volunteer with DED. Detroit Eviction Defense. The organization has now saved five homes in our neighborhood. I like my neighbors and bless DED that they assist people identify programs to help.

[Richard]

I second the researcher in the article that said that people are relatively unaware
of their potential ability to buy the houses they live in at auction. I talked to several
neighbors today and two that I talked to were living in houses listed in the auction.
I filled them in about the WDWOT site showing houses at the auction that ends Monday
...but now they are more or less on their own finding someone to bid on their houses for
them in the short amount of time...a case of VERY asymmetrical information. WDWOT
can even things up a little - kudos to the webmasters there.

Would they pay 22% interest? Sounds kinda rough I know but no different from not paying taxes then buying it back for pennies on the dollar.

Sounds like the perfect nich market for some subprime lending.

[Dumpling]

There was an auction held by a real estate firm in about year 2009 at the house
next door to mine in Detroit. [[There was the excitement of bidding, and sold! to the
highest bidder.) The house next door went for about $11,000 cash. It is a two unit
house. A single unit house in, I think it was Garden City, went for about $90,000 cash
at that same auction, to give you an idea of how valued Detroit houses are, but also
to point out that many people have an adequate amount of cash on hand. The current
tax auction bids are all for less than one thousand dollars. A typical rent payment in the
area for a house is at least five hundred per month. I don't know how far subprime
lenders will get in this environment.

[Richard]

I was referring to the hypothetical situation where the home owner was looking for a shadow buyer to purchase thier house at tax auction ,they would in essence be pawning thier house with monthly payments to repay the costs plus interest with a $1 buyout in the end,the payment would also have to be extra to escrow the currant taxes so as to not get behind again.

So if they could not afford that then they would not be able to afford the house in the future anyways,in a way it is kinda a win for the city,they are getting some cash up front,the homeowner stays in the house and gets back on track for future revenue,they could justify the original loss as an incentive to the homeowner no different then incentives for business.

The downside is because of the high risk one would have to charge 20 to 30% interest to cover losses.

[Willi]

I second the researcher in the article that said that people are relatively unaware
of their potential ability to buy the houses they live in at auction. .

Far too many are unaware of a lot of things that can help them.
A certain level of literacy, comprehension, etc. are necessary to conduct research
at the library, online, at a facility or elsewhere. Info exists , it just has to be found.

From the article in The Atlantic [[link posted in OP):
"""Detroit’s tax-delinquent residents, are frequently blamed
for the city’s underfunded, poorly functioning public infrastructure
and are considered part of the reason the city went bankrupt in the first place."""

[Dumpling]

Lauren Hood is 42, African American and grew up middle class in Detroit but was educated at Detroit Country Day in Bloomfield Hills, and later at University of Detroit-Mercy. Today she works for Loveland Technologies, which performs mapping and data analysis on, and in, Detroit. Her background prepared her to move like a local through the various ecosystems that tend to crash into one another in the city – housing activists, nonprofit groups with improvement agendas, young immigrants, older long-termers, corporate interests and more. In this small town within a big city, she sometimes finds an “echo chamber, where I’m the only one of me — black, Detroiter.” [[From the Detroit Free Press archive)

Attending Detroit Country Day [[or equivalent excellent school) helps one be more aware of
a lot of things that can help them.

[Richard]

Dumpling walked to the corner, had a piece of bubblegum, turned left and petted his dog.
Then he went home, turned on the light and did nothing for 2 hours.

WTF Dumpling - do you just post SHIT anywhere regardless of the Thread, Topic,Title ?

I don't give a flying snot about Lauren and nobody else does either -

Yo admin, sysop, etc. step in anytime and direct Dumpling to the proper thread please.

Yea,that was totally uncalled for and dead on the topic that you have posted,he/she showed that even though there are many forms of assistance advailable they are piece meal and unorganized,so much so that even someone highly educated had trouble navigating.

Every city had different forms of assistance advailable,and every city has trouble getting the message out,so to place an education level on one as a reason is just assnine.It is a systematic fault.Work on that.

[Dumpling]

Well, I could certainly be more clear! I posted earlier mentioning a WDWOT website
which lists properties to be sold at the 2014 Wayne County Tax Auction. It helps to
streamline the bidding process for Wayne county property by putting information about
it online. The website is "Why Don't We Own This?" It isn't the bidding site though!
But for example, suppose that I want to place a last minute bid tomorrow morning. I
haven't registered - that had to be done a couple of weeks ago. What to do? I can
look at the 2013 Wayne County Tax Auction list of bidders to discern if there is someone
there I might know who will bid for me. This is user friendly indeed. The registering
and bidding process is not a bottleneck for the transfer of property any more.

[Dumpling]

Far too many are unaware of a lot of things that can help them.
A certain level of literacy, comprehension, etc. are necessary to conduct research
at the library, online, at a facility or elsewhere. Info exists , it just has to be found.

From the article in The Atlantic [[link posted in OP):
"""Detroit’s tax-delinquent residents, are frequently blamed
for the city’s underfunded, poorly functioning public infrastructure
and are considered part of the reason the city went bankrupt in the first place."""

Attending Detroit Country Day [[or equivalent excellent school) helps one be more aware
of a lot of things that can help them.

[Dumpling]

Lauren Hood works for Loveland Technologies which helped develop the "Why Don't
We Own This?" site I admired earlier. She and her coworkers are helping Detroit
by streamlining the property information process so that properties can change hands
more quickly, and neighbors can know readily what is going on in their immediate area,
rather than have houses sit to be scrapped out over a process of years.
This may be one reason why Detroit won't fail.

[Willi]

Tough to see the whole picture - when the puzzle pieces aren't there - Dumpling
Now it all starts to make a bit more sense since you filled in those voids, Thanks

[rex]

Attending Detroit Country Day [[or equivalent excellent school) helps one be more aware
of a lot of things that can help them.

I would think being poor, from a poor family, and with poor friends you would be more aware of things that can help. People surrounding you would have first hand knowledge of social services. Its not like Country Day or equivalent schools have classes that teach you how to work the system.

[Willi]

When an illiterate person surrounds themselves with other illiterates - it's a bad scene.
The only way to improve, is to seek out those who are smarter and ask questions.
If people can't figure stuff out on their own, look for those willing to assist and aid.

It would appear that many simply lack the will, desire, drive, to better themselves
or their situation, by merely keeping to themselves , creating an island effect.