The 137 page foreclosure listing, by the way, is only tax foreclosures, i.e. for people who haven’t paid their property taxes.
In normal times, far more people are in foreclosure for not paying their mortgages than for not paying their property taxes. In normal times, property taxes are paid automatically along with your mortgage, if your mortgage payment is current.
Also, recall from prior posts that the average price of a single family home in Detroit is currently under $10,000.
The 137 page foreclosure listing, by the way, is only tax foreclosures, i.e. for people who haven’t paid their property taxes.
In normal times, far more people are in foreclosure for not paying their mortgages than for not paying their property taxes. In normal times, property taxes are paid automatically along with your mortgage, if your mortgage payment is current.
Also, recall from prior posts that the average price of a single family home in Detroit is currently under $10,000.