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An Overview On The Rise Of Reo Detroit Foreclosures
By: Joseph Smith | - Detroit has amongst the highest foreclosure rates (16%) in the country. This means a large number of homes are involved in foreclosures in Detroit. While some of these are homes that have been foreclosed upon by the government (HUD foreclosures), a majority are homes that have been foreclosed upon by lenders/banks.
A bank would foreclose on a house when the home owner is unable to make the mortgage payments on time. The home owner is given some time to try and cure the default in question ...
Tags: Detroit MI foreclosures foreclosed homes foreclosure listings houses search hud government bank forclosure forclosed forclosures home property propert

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