LANSING — "In an opinion with significant ramifications for Wayne County and all of Michigan, the Michigan Supreme Court ruled Friday that local governments can’t keep the profits from property sales resulting from tax foreclosures, but must return the excess proceeds to the former owners."
https://www.freep.com/story/news/loc...it/5459650002/
While on the surface this may sound like a good thing for struggling homeowners, it's likely to have enormous consequences for the Michigan in the future. For investors it eliminates most of the negative consequences of not keeping current on property taxes, and is likely to lead to a massive spike in tax foreclosures and a big loss of revenue for the counties.
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