Blight ticket
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Blight ticket (by Dwayne [MI]) Jul 29, 2020 10:51 AM
       Blight ticket (by FloridaNative [FL]) Jul 29, 2020 11:14 AM
       Blight ticket (by NE [PA]) Jul 29, 2020 11:20 AM
       Blight ticket (by Hammer [TN]) Jul 29, 2020 12:09 PM
       Blight ticket (by Ken [NY]) Jul 29, 2020 12:10 PM
       Blight ticket (by Dwayne [MI]) Jul 29, 2020 3:29 PM
       Blight ticket (by John... [MI]) Jul 29, 2020 3:38 PM
       Blight ticket (by Dwayne [MI]) Jul 29, 2020 4:38 PM
       Blight ticket (by Ken [NY]) Jul 29, 2020 4:42 PM
       Blight ticket (by 6x6 [TN]) Jul 29, 2020 5:48 PM
       Blight ticket (by Dwayne [MI]) Jul 29, 2020 7:29 PM
       Blight ticket (by Jerry [MA]) Jul 29, 2020 9:09 PM
       Blight ticket (by Jerry [MA]) Jul 29, 2020 9:11 PM
       Blight ticket (by Dwayne [MI]) Jul 29, 2020 9:54 PM
       Blight ticket (by NE [PA]) Jul 30, 2020 7:13 AM
       Blight ticket (by NE [PA]) Jul 30, 2020 7:13 AM
       Blight ticket (by FloridaNative [FL]) Jul 30, 2020 12:00 PM
       Blight ticket (by John... [MI]) Jul 30, 2020 1:29 PM
       Blight ticket (by 6x6 [TN]) Jul 30, 2020 5:07 PM
       Blight ticket (by 6x6 [TN]) Jul 30, 2020 5:10 PM
       Blight ticket (by Dwayne [MI]) Jul 30, 2020 5:55 PM
       Blight ticket (by NE [PA]) Jul 30, 2020 7:08 PM
       Blight ticket (by Ken [NY]) Jul 30, 2020 7:28 PM
       Blight ticket (by Ed [PA]) Jul 30, 2020 10:34 PM
       Blight ticket (by Sir Walter [NC]) Jul 30, 2020 11:21 PM
       Blight ticket (by Ken [NY]) Jul 31, 2020 12:50 PM
       Blight ticket (by 6x6 [TN]) Jul 31, 2020 4:28 PM
       Blight ticket (by Ken [NY]) Aug 1, 2020 3:02 PM
       Blight ticket (by 6x6 [TN]) Aug 1, 2020 4:53 PM
       Blight ticket (by Sir Walter [NC]) Aug 1, 2020 5:03 PM

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Blight ticket (by Dwayne [MI]) Posted on: Jul 29, 2020 10:51 AM
Message:

I got garnisheed for blight tickets on a property that I surrendered in bankruptcy in 2011. Is there anything that I can do to eliminate or reduce this? The property is in Detroit, MI. Thanks --70.158.xxx.xx




Blight ticket (by FloridaNative [FL]) Posted on: Jul 29, 2020 11:14 AM
Message:

Normally the lender forecloses on the property if you have surrendered it in BK. It's been 9 years since the surrender so the BK should have happened by now. Check the public records to see the status. If it is unclear, contact your BK attorney to get advice on where to go from here. --68.104.xxx.xxx




Blight ticket (by NE [PA]) Posted on: Jul 29, 2020 11:20 AM
Message:

Did the bank ever take over title to the property? If they didn't, do you still own it and can you sell it at this point? You may find that it slipped through the cracks and is still yours. --50.107.xxx.xxx




Blight ticket (by Hammer [TN]) Posted on: Jul 29, 2020 12:09 PM
Message:

An investor at a RE meet up told this story.

He was buying up blighted properties in Detroit to bulldoze and renovate an entire block. These were vacant homes that he would have winterized, boarded up and painted to remove graffiti.

Almost weekly the locals would tag/graffiti the homes and, the city would hit him with huge fines. He met with officials and explained his plan, showed drawings of the new development and how much tax money the new development would bring them. They said "don't care we need money now!! "

So he created a Nevada corp LLC, and deeded all the properties to the LLC and walked away. City fined the LLC which he never renewed and then foreclosed on the properties. He was out the purchase price and a few thousand to the handyman who was doing the fix up/board ups. --137.119.xxx.xx




Blight ticket (by Ken [NY]) Posted on: Jul 29, 2020 12:10 PM
Message:

I talk to people regularly that did a BK and assumed the bank would foreclose but they didnt,they dont have to.Look it up,maybe the bank released the mortgage and you can sell it,maybe not.Either way you need to figure out where you stand then figure out a way to get rid of it. --104.229.xxx.xxx




Blight ticket (by Dwayne [MI]) Posted on: Jul 29, 2020 3:29 PM
Message:

The bank didnít foreclose I discovered. I didnít get notice until the garnishee. I was hoping someone had suggestions to reduce or eliminate this cost. Thanks --68.36.xxx.xxx




Blight ticket (by John... [MI]) Posted on: Jul 29, 2020 3:38 PM
Message:

So, if the bank didn't foreclose, then you still own the property? Was it WAY underwater at the time? Detroit today isn't quite the same as 2009. Any chance you could find a buyer or do you still owe so much to the bank that it'd never be worth it?

- John...

--67.209.xxx.xx




Blight ticket (by Dwayne [MI]) Posted on: Jul 29, 2020 4:38 PM
Message:

The debt was eliminated, I still own it and can try to sell but still donít want to pay blight tickets. --68.36.xxx.xxx




Blight ticket (by Ken [NY]) Posted on: Jul 29, 2020 4:42 PM
Message:

You no longer owe the debt because of the BK but unless the bank released the mortgage there is still a mortgage filed against the property,you need to do a title search and find out if the mortgage is still there or not,also what about property taxes? i am surprised the city didnt foreclose for non payment of property tax,call the taxing authority and ask about that --104.229.xxx.xxx




Blight ticket (by 6x6 [TN]) Posted on: Jul 29, 2020 5:48 PM
Message:

Okay!

The bank didn't foreclose and eliminated the debt and you could sell it and yet, you don't want to pay the blight tickets.

How much are the tickets? --73.120.xx.xxx




Blight ticket (by Dwayne [MI]) Posted on: Jul 29, 2020 7:29 PM
Message:

$4,234 --68.36.xxx.xxx




Blight ticket (by Jerry [MA]) Posted on: Jul 29, 2020 9:09 PM
Message:

You are stuck with the tickets. You will need to pay the tickets if/when you sell the property. Unless the city takes the property before you sell it. --71.233.xxx.xx




Blight ticket (by Jerry [MA]) Posted on: Jul 29, 2020 9:11 PM
Message:

Can you fix up the property at a low cost to prevent new blight tickets? --71.233.xxx.xx




Blight ticket (by Dwayne [MI]) Posted on: Jul 29, 2020 9:54 PM
Message:

I will have to find a way to Jerry. Thanks for your input. --68.36.xxx.xxx




Blight ticket (by NE [PA]) Posted on: Jul 30, 2020 7:13 AM
Message:

You might be tripping over dollars to pick up pennies regarding those blight tickets. How much is the house worth?

I would check on the mortgage release and see if they let it go. Worst case scenario, if they didn't let it go and you can't sell it, then just rent it out. Rent it until they end up taking it. --174.198.xx.xxx




Blight ticket (by NE [PA]) Posted on: Jul 30, 2020 7:13 AM
Message:

You might be tripping over dollars to pick up pennies regarding those blight tickets. How much is the house worth?

I would check on the mortgage release and see if they let it go. Worst case scenario, if they didn't let it go and you can't sell it, then just rent it out. Rent it until they end up taking it. --174.198.xx.xxx




Blight ticket (by FloridaNative [FL]) Posted on: Jul 30, 2020 12:00 PM
Message:

Just because you have had the mortgage debt released on that surrendered property doesn't mean that the mortgage LIEN was released. Those are two separate actions. The foreclosure is what removes the mortgage lien from the property (or a payoff) in the case of a BK. Since there was no foreclosure there was no lien removal.

You need an attorney to get this property out of your name to take care of it once and for all.

--68.104.xxx.xxx




Blight ticket (by John... [MI]) Posted on: Jul 30, 2020 1:29 PM
Message:

Agreed. I find it unlikely that his debt has been erased and he now owns the house free and clear...

- John...

--67.209.xxx.xx




Blight ticket (by 6x6 [TN]) Posted on: Jul 30, 2020 5:07 PM
Message:

If the debt has not been erased or the lien not gone then how is there no one trying to collect. I know that BK was filled so they can't legally pursue money but why would they not have done anything with the house?

Why is the city trying to collect for blight tickets from the person who filled BK instead of the bank who technically should be the current owner due to the BK?

I am confused. --73.120.xx.xxx




Blight ticket (by 6x6 [TN]) Posted on: Jul 30, 2020 5:10 PM
Message:

The debt would have been erased with BK, right? --73.120.xx.xxx




Blight ticket (by Dwayne [MI]) Posted on: Jul 30, 2020 5:55 PM
Message:

The debt is erased but the bank knows the properties they take back in Detroit likely will be vandalized, so they often donít take them back. --68.36.xxx.xxx




Blight ticket (by NE [PA]) Posted on: Jul 30, 2020 7:08 PM
Message:

JohnÖ, It does happen. Banks will walk away from that and leave the ownership in prior owners names. There's a loose name that this is sometimes referred to. I've heard it called zombie foreclosures or zombie mortgages. You could look that up and read on it maybe find some videos about it. --50.107.xxx.xxx




Blight ticket (by Ken [NY]) Posted on: Jul 30, 2020 7:28 PM
Message:

Called zombie houses. 6x6 bank does not have to foreclose so it remains owned by the poster who filed bankrupt.In some cases the bank will release the mortgage,in the last year i have bought 4-5 houses in this sutuation,you would be surprised how nice some of them are,i bought one that the owner was still living in for $9000 and turned around and sold it for $70000 and did nothing to it.I target these houses with mailings and call the owners --104.229.xxx.xxx




Blight ticket (by Ed [PA]) Posted on: Jul 30, 2020 10:34 PM
Message:

When you take a loan out to buy a house you sign a promissory note and a mortgage. Most people think they are the same thing but they are not. Promissory note goes against the borrower, mortgage is a lien against the house. The bankruptcy only wipes out the promissory note not the lien against the house. The bank can't haul you in to take the money directly from you but if you ever sell the house they get the proceeds to pay off the mortgage. I've seen houses sit vacant until they are falling down because the mortgage is worth more than the house.

You would be best to put just enough money in to make it habitable and rent the thing out. If you put too much money in making repairs the bank can still foreclose but it's not likely. --68.162.xxx.xxx




Blight ticket (by Sir Walter [NC]) Posted on: Jul 30, 2020 11:21 PM
Message:

Ken [NY], how do you identify zombie houses when creating a mailing list? --98.122.xxx.xx




Blight ticket (by Ken [NY]) Posted on: Jul 31, 2020 12:50 PM
Message:

In my state the bank will file a release of mortgage,not a satisfaction but a release. In the release there is a paragraph that says This release is solely for the purpose of releasing the real property described above from the lein created by the mortgage and is not a release of the obligation under the note as said obligation has not been fully paid.When you see that in the release the mortgage was released,the letter sent to the owner is written in a way that most people dont understand what the bank is saying.When i talk to these people i tell them i can fight with there bank but i can only give them a little bit of cash,often they are leaving town and need my cash to get to florida or wherever.Keep in mind there may still be what was originally a second mortgage,leins,judgments,back taxes etc they can be a real mess.I have found that most of the time a mortgage was released the payor either died or filed bankruptcy.If you want to go after people who have missed a couple mortgage payments then look up mortgage assignments,the way MERS system is set up when someone misses payments the banks file an assignment to the bank who owns the mortgage in order to have it assigned to the correct bank when they start a foreclosure action.There are way more assignments,i do mail them and get a few calls but do not pursue them unless they call me but the real money is in finding the houses that had a release filed.

--104.229.xxx.xxx




Blight ticket (by 6x6 [TN]) Posted on: Jul 31, 2020 4:28 PM
Message:

Thank you Ken.

I will reread trying to get it in my head.

If they release the mortgage but not the obligation, what does that mean for you as the buyer?

Are they still holding the original borrower liable?

Do you end up with a clear title by just paying(using your example) the $9000?

After rereading, I take it you gave the resident 9k in cash, so what about the bank? --73.120.xx.xxx




Blight ticket (by Ken [NY]) Posted on: Aug 1, 2020 3:02 PM
Message:

6x6 The bank released the mortgage so yes title is clear,the bank is out of the picture as far as the house is concerned although they only released the mortgage and not the note so the seller still owes the bank the money but no security,as in no house to secure the debt so the bank got nothing.In this particular case the guy had filed bankruptcy so he no longer owed the debt.He and his BK attorney assumed the bank would foreclose and never checked the title to figure out what happened,i am in the business of buying houses not informing people that banks walked away from there mortgage so i gave him $9000 cashiers check,he needed a couple months to move south so that was part of the deal and he did as he had agreed to.Ironic thing was this guy just inherited enough money to be building a new house down south.I sold it to a friend for $70000 who had the interior cleaned and painted and got an appraisal for $110000 in order to refi it and have a long term mortgage.First time i took one of these to my title guy they said they had never seen one of them but there attorneys agreed the mortgage was gone and provided a title policy no problem.This house was liveable and in a decent neighborhood,my friend gets $1500 month rent now for it so if you look for these dont assume they are only in d class neighborhoods --104.229.xxx.xxx




Blight ticket (by 6x6 [TN]) Posted on: Aug 1, 2020 4:53 PM
Message:

Thank You Ken. --73.120.xx.xxx




Blight ticket (by Sir Walter [NC]) Posted on: Aug 1, 2020 5:03 PM
Message:

Thank you, Ken. --98.122.xxx.xx



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