Southfield Homeowners Level Accusations of Exploitation
/in SE Michigan /by Tracy WillisZombie Properties Becoming More Common
/in National /by Tracy WillisIn the first quarter of 2021, 1 in 14,825 homes sat empty during the foreclosure process, but that number is on the rise. In the second quarter, one of every 12,256 homes are zombie properties. The spike may be due to lenders foreclosing on homes that were already abandoned. However, even with the increase, zombie foreclosures are still just a blip on the radar screen. The trend has been seen before when government officials try to delay foreclosure proceedings for so long that distressed borrowers simply abandon the property before the foreclosure can take place.
Millions Face Eviction & Uncertainty
/1 Comment/in National /by Tracy WillisAs states challenge the federal moratorium on evictions, families across the U.S. don’t know if they’re going to have a place stay. An avalanche of evictions could soon become a reality as renters owe $53 billion to landlords. The Texas Supreme Court lifted the moratorium on evictions on March 31. As a result, the Dallas-Fort Worth area has the third-most eviction filings in the country. The moratorium is scheduled to be lifted on June 30. According to the Aspen Institute, 40 million Americans are at risk of losing their homes.
Biden’s Eviction Ban Policy Heads to the Supreme Court
/in National /by Tracy WillisThe replacement evictions moratorium will stay in place for now, according to the federal appeals court. A spokesman for the National Association of Realtors is confident that the Supreme Court will block the policy. The Center for Disease Control and Prevention imposed the evictions moratorium on August 3 in counties where Covid-19 is accelerating. Currently, that covers about 91 percent of the counties in the United States. The Delta variant has caused new coronavirus cases to soar, while the $46.5 billion rental assistance funds appropriated by Congress have yet to be widely distributed.
Eviction Moratorium Extension Causes Angst
/in Detroit, SE Michigan /by Tracy WillisMetro Detroit landlords continue to wrestle with the eviction moratorium extension. Some have drained their savings and maxed out credit cards to cover costs on their rental properties. The eviction moratorium had recently ended, only to be extended again until October 3. Tenants who face eviction often lose everything when their belongings are disposed of. More than 18,000 applicants have been approved for more than $117 million in rent relief, with thousands more awaiting approval of their application. $400 million still needs to be distributed. Although the extension was intended for communities that had substantial Covid 19 spread, Wayne County now qualifies after entering the substantial transmission category on Wednesday afternoon.
Eviction Ban Reversal Upsets Lobbyists
/in National /by Tracy WillisHousing lobbyists are upset about President Biden’s decision to revive the eviction ban. The President’s unexpected move to reinstate the federal eviction moratorium is a political loss for the National Association of Realtors and its industry allies who say they were excluded from discussions on the ban with the White House. Despite millions of dollars in contributions, industry trade groups felt the sting of betrayal from progressive lawmakers. The eviction ban fight is making its way through the courts.